Wooplr, a fashion discovery application for women, has today raised an undisclosed amount of funding from Astarc Ventures, as reported by VCCircle.
While the investment amount for the current round is not disclosed, Astarc Ventures typically invests between $300,000 and $1 million in a startup. An investment arm of Astarc Group, it participates in seed round, Series A and Series B rounds as a minority investor. Hari Krishnan, who is the manager for the VC firm, said that the Wooplr team has “robust tech capabilities and an amazing sense of picking today’s fashion trends”.
As per the company, it currently has more than 3 million women users on its platform and plans to reach 100 million women users in India by the year 2020. The company is also aiming to hit $100 million in GMV by 2018.
Earlier, the startup had raised a funding round from the founders of InMobi – Naveen Tewari, Abhay Singhal, and Amit Gupta and Piyush Shah, Chief Product Officer at InMobi, Raghunandan G, Co-founder, Taxi for Sure and ex-Puma India CEO Rajiv Mehta. Prior to that, in February 2015, it had raised $5 million from Helion Ventures in order to expand its team and presence. Before that, Wooplr secured over $140K from MakeMyTrip CEO Deep Kalra and a few others angel investors in September 2014.
Founded in 2012 by Soumen Sarkar, Arjun Zacharia, Praveen Rajaretnam, and Ankit Sabharwal, Wooplr is a social shopping platform that allows people to recommend their favorite products and stores in the city and share it with their social circles. It enables people to discover new products from local stores around them through recommendations from friends & other social influencers. Based upon the shared content and various other parameters like location and interests, it presents a personalised, curated feed of fashion products to help users get to know about fashion products in local stores.
In order to strengthen its leadership, Wooplr announced appointment of veterans Rajiv Mehta, CEO Arvind Lifestyle and Rajesh Kamra, Co-founder, Koovs to significant positions within its organizational hierarchy earlier this year. While Rajiv joined in a senior advisory capacity, Rajesh took the role of head of commerce for the company.