Fashor, an online shopping site for women, has raised $1 million in a Pre-Series A round led by Sprout Venture Partners. IP Ventures, and Venture Catalysts, with participation from a few HNIs. The startup was founded by Vikram and Priyanka Kankaria in 2017.
The startup will utilize these funds to expand its online and offline channels.
In a media statement, Vikram Kankaria, Co-founder of Fashor, said, “Fashion is the first category that most consumers buy online and is soon going to emerge as the largest e-com category. Very few brands currently exist and over 80 percent of the $21 billion women’s apparel industry is unbranded. The company is well placed to capitalize on this growth opportunity for branded players and has seen strong traction since inception. The funding will help the company in accelerating growth and will help Fashor become a leading affordable fashion brand.”
The startup has over 75,000 customers and over 70 percent of its revenue comes from its website and app.