Mar 8, 2016
Wooplr gets investment from InMobi, TFS founders
Mar 8, 2016
Wooplr Technologies Pvt. Ltd, which owns and operates fashion discovery app Wooplr, on Monday said it has raised an undisclosed amount from Naveen Tewari, Abhay Singhal and Amit Gupta, all co-founders of mobile ad-tech firm InMobi.
Piyush Shah, Chief Product Officer at InMobi, Raghunandan G, co-founder, TaxiforSure and ex-Puma India CEO Rajiv Mehta also invested in Wooplr. Mehta will join Wooplr as Advisors to the Board.
Naveen and his team's experience in building scalable products like Miip, the InMobi discovery platform, can be leveraged by Wooplr to scale up its product and bring to life its vision of reaching 100 million women in India by 2020 (currently the platform is used by two million women), said the company in a release.
Raghunandan, co-founder of TFS will help the company to scale their fashion commerce efforts nationally while maintaining unit economics around orders.
Rajiv Mehta, ex-Managing Director-South Asia for Puma, is currently the CEO of Arvind Sports Lifestyle Ltd & Arvind Fashion Brands Ltd.
He will bring to Wooplr his strategic vision and global insights and help Wooplr to further strengthen their positioning in the fashion industry.
The new funds will be utilized for geographical expansion. Currently, the company has one office in Bengaluru and plans to set up offices in Delhi and Mumbai shortly.
Arjun Zacharia, CEO, Wooplr said, "The company already has two million women on the platform, and does 20,000 transactions a month, with and average bill size of Rs 1,200. This is almost twice that of horizontal e-commerce players. Together as a team, we will continue our growth trajectory and hit $100 million GMV by 2018."
Naveen Tewari, Founder & CEO, InMobi said, "I believe Wooplr 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."
Wooplr is a fashion community and social commerce platform, co-founded by four former McAfee employees—Arjun Zacharia, Praveen Rajaretnam, Soumen Sarkar and Ankit Sabharwal—in March 2013.
Wooplr has gone on to become the Winner of the Google AppExpo 2014 and featured as Editors choice by Apple App Store and Google Play Store.
Bengaluru-based Wooplr raised $5 million from Helion Venture Partners a year ago.
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