Wooplr, claiming to be one of India’s largest fashion community and fashion discovery-commerce mobile application, has announced that it has raised a new funding round from industry veterans.
The investors, who invested in this round includes co-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. He will also join Wooplr as Advisors to the Board.
The company is now seeking to leverage investors’ and advisor’s experience and knowledge in scaling their own business. They also plan to use their stretegic vision and global insights to further strengthen its presence in the industry.
Arjun Zacharia, CEO, Wooplr, said:
It is a proud moment for Wooplr to have such industry veterans joining us as advisors to the board. Naveen and his team from InMobi, Raghu, and Rajiv have immense reputation and experience in their respective businesses and I am sure Wooplr will gain both in reputation and in knowledge from these folks. Their advice to the Board will add significant value to our leadership team.
He further claims that they already have 2 million women on the platform and are doing around 20,000 transactions a month. The average bill size is Rs 1,200, almost double that of horizontal e-commerce players. With its strong team and support from this new members, the company is now aiming to hit $100 million GMV by 2018.
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 lets people 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.
Naveen Tewari, Founder & CEO, InMobi said,
I believe it is a unique product in the Indian market that has solved the fashion discovery problem for consumers & brands. This makes me confident that Wooplr has the capability to change the current paradigm in online commerce.
Raghunandan G, Co-founder & CEO, Taxiforsure, said,
Fashion is a big growth driver in the ecommerce space and Wooplr is in the forefront of being able to capitalise on this growth, with scale they have achieved by reaching 1.5 Million women in India. I am happy to be part of the advisory team and look forward to helping Wooplr in its journey.
Commenting on his joining as Advisor to the board, Rajiv Mehta said,
I see the company as a beacon leading the fashion commerce industry away from the discount & sale driven black hole to deliver a new way to shop for fashion, with their focus on balancing commerce, content, and community. I look forward to contributing to this revolution that Wooplr leads.
Currently, the company claims that its platform is used by more than 2 Million women in India. Earlier, the company had raised $5 million in its Series A round of funding in February last year.
Last month, the company announced appointment of veterans Rajiv Mehta, CEO Arvind Lifestyle and Rajesh Kamra, Co-founder, Koovs to significant positions within its organizational hierarchy.
