Yufta, a Jaipur headquartered hyperlocal fashion commerce portal which is owned by RKT LIFESTYLE PVT LTD has closed an undisclosed amount of funding round lead by Ajay Data, founder of Data Infosys Ltd. and a group of Mumbai and Dubai based HNIs.
Yufta, owned by Ritesh Khandelwal will now expand in Delhi, Mumbai and Bangalore in the next six month and invest more towards technology development.
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Ritesh says on being asked about the idea behind Yufta.
It has been co-founded by Ravi Khandelwal, a qualified Chartered Accountantand Tarun Sharma along with Ritesh and is a team of young and dynamic tech and fashion oriented people. Ajay Data will be joining the board of Yufta. He is also the technology guide and mentor of Blue Box Media, which owns and manages The Tech Portal.
With more than 1 lakh units shipped by now and clocking gross revenues of 6 crores in last year, Yufta is growing fast and will be focusing more on technology with an expert like Ajay Data on board. But competing with giants like Limeroad (funded by Tiger global) and Voonik (funded by Sequoia) is going to be a tough task for the young startup.