Recently, India’s largest lingerie portal Zivame raised around Rs 250 Cr in series c funding from a consortium of investors. Tata group was one of the investors along with other major investors. In the Startup funding arena, where Startup companies raise millions as part of their funding, the amount contributed by Tata group was very small but the significance of an investor like Tata group cannot be ignored.
Zivame, which was founded by Richa Kar, has become a big name in the Indian lingerie market. In a way the concept is tapping the awkwardness that women in general face while purchasing a lingerie in a store. Zivame seeks to take away the awkwardness by providing an online portal where women can purchase lingerie from a wide range of collection. Telling preferences to the shopkeeper in a traditional store is nothing short of awkward.
As far as the present valuation of Zivame is concerned, the company is valued at around $100M and it recently completed it series c funding. Private equity firm Zodius Capital led the series c funding and the funding raised Rs 250 Cr in total. According to sources, Tata group put in around Rs 10 lakh which is their smallest investment in Startups. But what is big is the name that Tata brings with itself. The amount of experience Zivame can gain from Tata group is incalculable.
In a burgeoning startup industry, not everyone succeeds and the success is also hampered if there is not enough experience on board. With Tata group’s involvement in Zivame, the company can grow leaps and bounds by tapping the often revered experience of the Tata group. In total Tatas have invested in about 16 companies and most have witnessed valuation growth. This explains why Startups are trying their best to catch the eyes of Tatas and irrespective of the amount put in by them, they will remain hot favorite for entrepreneurs.
Image Source: zivame