Ladyblush.com, an e-commerce portal for women has secured an undisclosed amount of funding from Bangkok-based VC fund Alpha Founders and others. This is the first round of investment raised by Gurgaon based marketplace. According to the report, the raised funds will be used to increase workforce, expand product catalogue and invest in marketing and technology.
Founded in 2012 by Rahul Sethi, Nagarjun Shrivastava and Suneet Manchanda, Ladyblush deals in over 15,000 products ranging from cosmetics, jewellery to ethnic and casual wear. The company is expected to set it footprints in abroad soon. The online marketplace currently competes with players like LimeRoad, 99labels, Pepper Closet and others.
Alpha Founders focuses on early to mid-stage investments in India, Sri Lanka, Pakistan, and South-east Asia. Speaking about the investment Johannes von Rohr, founding partner, Alpha Founders said, “Compared to other players in the market, Ladyblush has a very clear positioning paired with extremely lean operation. These ingredients will make the business scale easily.”
The e-commerce space in India has been evolving faster in the past 2 years with venture capital money pouring into the sector. Earlier this month online shopping website ShopClues.com raised Rs.54 Cr from Helion Venture Partners, Nexus Partners. Last month Vellvette Lifestyle Pvt Ltd raised funds from India Quotient (IQ) & participated by Mumbai-based angel investors, Nitin Agarwal and Siddharth Ladsariya.
When any market develops, there is a fine balance between demand and supply. In India what I have observed is that whenever a trend starts several people jump in and soon supply starts to exceed demand and that causes all kinds of issues in the market. Online portals for clothes is no different. There are just too many apparel portal popping up in the market bagging investments. Let’s see if online shopping experience will be a hit among Indian in coming months/years.