Sequoia Capital led the funding round. Other participants were from Times Internet, Seed fund, Beenos, Beenext, Parkwood Bespin, Tancom Investments and Kunal Shah.
Having been launched in August 2010, Voonik saw a tremendous growth with 10 million registered users, 8 million app downloads, a gross merchandise value of 100 million, and an annual revenue rate of 13 million.
Recently, the company launched two other fashion platforms, Mr Voonik, an exclusive app for men’s fashion and Vilara, a marketplace for designers and boutiques.
In their first round of funding,Voonik had raised USD 500,000 as the seed fund.The first round of funding itself had given quite an opportunity for scale up, for Voonik. The success of Voonik after first round, boosted investors’ confidence.
After the second round of funding, Investors are sure that the funds can take the fashion retail to their next level of growth. Sujayath Ali, the Founder and CEO of Voonik said, ‘’the funds will enable Voonik to enhance their website’s user experience and digital personalization engine.’’