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Indian direct-to-consumer (D2C) fashion brand Bewakoof recently announced raising ₹30 crore from IvyCap Ventures Trust Fund II. The funds would help it evolve into a ₹1,000-crore company by fiscal 2023-24, it said. The fresh infusion comes ten months after its previous fundraise in May last year, when had raised ₹8 crore, the company said in a statement.
Bewakoof intends to invest the funds in enhancing customer experience, technology and newer product categories as it prepares for the next phase of growth, a news agency reported.
Founded in 2012, Bewakoof claims to have registered revenue of over ₹200 crore in fiscal 2018-19.
Due to the pandemic, the company expects revenue to be 30-35 per cent lower than pre-COVID numbers, but with better unit economics than the previous year.
Bewakoof is backed by institutional investors like Investcorp, Uniqorn Ventures, Pratithi Trust, and a few other angel investors.
Fibre2Fashion News Desk (DS)
Indian direct-to-consumer (D2C) fashion brand Bewakoof recently announced raising ₹30 crore from IvyCap Ventures Trust Fund II. The funds would help it evolve into a ₹1,000-crore company by fiscal 2023-24, it said. The fresh infusion comes ten months after its previous fundraise in May last year, when had raised ₹8 crore, the company said in a statement.