Roposo, the Tiger Global-backed online fashion discovery platform has now raised another $15 million in a fresh funding round from existing investorTiger Global Management. Earlier, the company raised $5 million in Series A round from Tiger Global.
With fresh cash coming in, the company is now planning to use the raised capital to enhance its technological infrastructure and to revamp its product offerings.
Founded by three IIT Delhi graduates – Mayank Bhangadia, Avinash Saxena and Kaushal Shubhank in December 2013, Roposo is a platform which showcases user-generated content related to fashion. In short, more of a social network for all your fashion needs. It raised an intial seed funding from Flipkart’s co-founder Binny Bansal and Mumbai-based India Quotient.
It’s Android and iOS apps lets shoppers save and categorize clothing and makeup and see what items and trends are especially popular. In addition to individual users, the company also allows companies and stores to create accounts for their brands. It claims to have more than 200 web stores and over 400 brands registered on its both of its platforms.
Roposo further claims to have more than 1 million active users, with the user generated content is escalating 4 times every month, letting every user to discover fashion through styling stories, reviews, DIYs and trend inspirations.
While many companies focus on revenue generation once their product is out, Roposo has a different approach. As per its co-founder, the company’s primary focus today is to understand users, their taste and match them to the most relevant fashion content, people, and products. Currently, revenue is not a focus area for the company.
Mayank Bhangadia, co-founder of the company, said,
With more than 1 million active users, the user-generated content is escalating four times every month, letting every user discover fashion through styling stories, reviews, and trend inspirations. We have more than 200 web stores and 4,000 brands on our platform.
In the space of online fashion discovery portals, Roposo competes with the likes of Voonik, which raised funds from Sequoia Capital, Wooplr, which raised funds from Helion Venture Partners and Doozton, which is now acquired by Snapdeal.
Another interesting trend to notice though, is Tiger global’s recent funding strategy. While I obviously can not say for all of Tiger Global’s ‘global’ investments, its more recent ones point towards a more mobile-only approach the VC firm is heading to. Tiger Global recently invested $20 Million into InShorts (earlier News In Shorts) which was a follow up round of the previous $4 Million it invested into the 60-worded news app.