Voonik raises USD20 mn in Series-B funding

Fashion marketplace Voonik has raised USD 20 million (around Rs 133 crore) in Series-B round of funding to scale up operations.

Sequoia Capital led the round with participation from Times Internet, Seedfund, Beenos, Beenext, Parkwood Bespin, Tancom Investments and Kunal Shah, it said in a statement today.

Earlier, Voonik had raised USD 500,000 in seed, USD 6.5 million in series A funding.

"The funds will enable Voonik to enhance customer experience, strengthen their personalisation engine, and to scale up Mr Voonik and Vilara," the company said.

"Series A helped us in gaining scale, and now with this renewed investor confidence through Series B, we are all set to consolidate our leadership in fashion commerce," co-founder and CEO Sujayath Ali Voonik said.

Launched in August 2014, Voonik has 10 million registered users, 8 million app downloads, 100 million annual gross merchandise value and 13 million annual revenue rate.

Recently, the company launched two other fashion platforms, Mr Voonik, an exclusive app for men fashion and Vilara, a market place for designers and boutiques.