India's Fynd raises funds from Google-led group, to invest in expansion
Fashion shopping app Fynd has managed to raise funds from Google, Kae Capital, IIFL and Tracxn Labs in its latest funding round and will use these funds to strengthen its online and offline presence across the country.
Fynd previously raised $3.4 million (around Rs 21 crore) last year with IIFL Seed Ventures contributing a major chunk with $2.4 million. The latest funding round was led by technology giant Google, which sees potential in the fashion firm to scale greater heights in the coming years.
“Fynd is growing steadily and has managed to seal some exciting partnerships in the past few months. Our vision is to revolutionize the online and offline shopping experience across all channels and customer touch-points. We expect that the capital raised will help us further bolster our growth trajectory,” said Harsh Shah, co-founder, Fynd in a statement.
“Fynd has built an impressive, tech-first platform that has tremendous potential to scale within and beyond fashion and India. Its unique store-driven commerce approach, without inventory or warehouses, gives it a unique position in the marketplace" added Seema Rao, Head of Corporate Development - India, Google.
Fynd was launched in 2012 as Shopsense Retail Technology Pvt Ltd, by Farooq Adam, Harsh Shah, and Sreeraman MG. It sources products across various categories including clothing, footwear, jewellery and accessories, from the most prominent brands in the country (via their in-store inventory) and brings them online.
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