Founded by Ankur Gupta and Nayan Kumar, VioletStreet is a fashion community that integrates the excitement of offline shopping to the online world.
Hyderabad based VioletStreet.com, an online fashion social network, has raised Rs 2 crore from individual angels in an angel round led by Venkat Vallabhaneni, Serial Entrepreneur and Former Senior Vice President of Bank of America and with participation from Srinivasa Rao Paturi, former CEO, Energy Leader Batteries India Ltd and other investors.
The company will utilize the funds to scale the technology, grow its team and increase its reach in the Indian market. Post funding, Venkat Vallabhaneni and one other investor will join the board of the company. Sudhakar Reddy, founder and CEO of Abhibus.com, will also join the company as a mentor.
Founded by Ankur Gupta and Nayan Kumar, VioletStreet is essentially a fashion community that integrates the excitement of offline shopping to the online world. VioletStreet users can discover fashion in a more exciting way by engaging with friends and an entire fashion community before buying.
VioletStreet also allows its users to mix and match and create custom looks by putting together fashion products from various sites. More than 3000 looks are created by users on the site every month. The company had previously raised Rs. 10 Lakh in a TiE Smashup event held in May, 2014.
Lead investor Venkat Vallabhaneni said, “Fashion is a mode of self-expression and with everything moving online for Gen X, this is only a natural extension. We believe that fashion will be the key driver in the ecommerce growth story in India by 2015. We believe in the founders’ ability to build a strong team and technology around their idea.”
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