StyleDotMe, a Gurugram-based fashion tech startup, announced that it has raised Rs 3.5 crore Pre-Series A funding led by Survam Partners.
Other investors that took part in the funding round include Bobby Kothari, Director, Jewelex India as a strategic investor, and existing investor IAN (Indian Angel Network).
Commenting on the development, Meghna Saraogi, Co-founder and CEO, said, “We truly believe that our product has the potential of reinventing how consumers shop in today’s world and that conviction drives everything we do and we’re excited to have found a set of partners whose ideals align with ours. Their backing and experience will allow us to expand in the global market and we are looking forward to capturing almost 50 percent of the market share across the biggest jewellery hubs: India, the Middle-East, and the US by 2025.”
“Through our product mirrAR, we are looking forward to revolutionising the whole shopping experience of a person through virtual and contactless try-ons,” she added.
“Today we are working with some of the world’s most iconic brands in jewellery retail including Tanishq, PC Jeweller, Amrapali Jewels, Farah Khan Fine Jewellery, House of Surana, Forever 21, Manyavar, and many more brands. We now have many upcoming regional and local retailers from Tier II and Tier III cities in India who have discovered the Magic of MirrAR in providing an awesome customer experience. We are now expanding our team and are also looking for resellers , implementation partners , Demo partners all over the world,” according to the Company’s LinkedIn page.
Akshay Munjal from Survam Partners shared, “Meghna and the team have an in-depth understanding of the challenges that the retailer community faces today and the need-gap that exists from a shopper’s lens. Their customer-centric approach to innovation and that passion to revolutionise the industry is what has drawn us to StyleDotMe.”
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