voonik business

Fashion shopping portal Voonik, which counts the likes of Sequoia Capital as its backers, has announced acquisition of three startups – Zohraa, Picksilk, and Styl, in order to build its premium fashion product Vilara.

With the acquisition of these three startups, the company has acquired five startups in the past six months. It is now focusing on curated fashion, and is attempting to strengthen its leadership in the unbranded fashion segment through acqui-hires or team acquisitions of startups in niche fashion offerings.

Zohraa, an online marketplace for designers and boutiques, has a team of 12 people, while the Picksilk.com, an online silk store has 8-person team. Styl, which connects stylists and salons with consumers, has a nine person team.

Voonik claims to have achieved a $100-million run rate and is now aiming to grow four-fold in GMV by the end of this fiscal. In February this year, the company acqui-hired menswear focused fashion portal Getsy to foray into the menswear segment with its app. Prior to that, in January, when online apparel rental startup Klozee shut down, it hired four people from the ten-member team of the company.

Last year, Voonik had acqui-hired TrialKart which offered virtual dressing room experience to its users for an undisclosed amount. At the time of acquisition, TrialKart was just a five months old start-up founded and self-funded by Vipul Divyanshu, Jayalakshmi Manohar and Harsha M. It was acquired when the company was in a process of raising external funds. This was soon after company introduced an image search feature on its platform, in line with other eCommerce stores.

Voonik was founded in 2013 by Navaneetha Krishnan and Sujayath Ali. It claims to India’s first stylist-handpicked apparel store. It provides a personal shopping platform that helps people dress well within their budget, by offering style advice and hand-selected recommendations, based on the customer’s style preferences and body type.

Till now, the company has raised $5.5 million in a couple of funding rounds from three investors, latest being $5 million in its Series A round from Sequoia Capital and SeedFund.

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