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17-June-2016

Bengaluru-based fashion marketplace Voonik has raised 20 million US dollar in Series-B round of funding. Since its launch in August 2014, Voonik, has become the leader in the unbranded fashion category with 10 million registered users, eight million app downloads, 100 million US dollar GMV and 13 million US dollar annual revenue rate, it said in a release.

Recently the company has launched two other fashion platforms, Voonik, an exclusive app for men fashion and Vilara, a market place for designers and boutiques.

Voonik had raised 500,000 US dollar in seed, 6.5 million US dollar in series A and 20 million US dollar in series B for a total of 27 million US dollar in funding.

The funds will enable Voonik to enhance customer experience, strengthen their personalization engine, and to scale up Voonik and Vilara.

On the supply side, Voonik claims it has over 15 lakh products from more than 15,000 sellers. Voonik has a highly scalable 'lean' marketplace business model where it operates without inventory and fulfilment centers, the release said. 

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