D2C fashion brand Bewakoof raises Rs 30 cr from IvyCap Ventures

Direct-to-consumer (D2C) fashion brand Bewakoof on Thursday said it has raised Rs 30 crore from IvyCap Ventures.

The fresh proceeds would help the company in the growth journey towards a Rs 1,000 crore company by financial year 2024, it said.

"Bewakoof has raised Rs 30 crore from IvyCap Ventures Trust Fund II. The fresh infusion has come 10 months after their previous fundraise. Last year, Bewakoof had raised Rs 8 crore in May 2020 after raising from Investcorp in October 2019," the company said in a statement.

Bewakoof intends to invest the funds in enhancing customer experience, technology and newer product categories as it prepares for the next phase of growth.

Founded in 2012, Bewakoof claims to have registered revenue of over Rs 200 crore in financial year 2019.

Due to the pandemic, the company expects revenue to be 30-35 per cent lower than pre-COVID numbers, but with better unit economics than the previous year.

Bewakoof is backed by institutional investors like Investcorp, Uniqorn Ventures, Pratithi Trust, and Angels like Kunal, Rohit, Kaushal Aggarwal.