 "Fashion startup Roposo raises $15 million from Tiger Global")
Roposo, a fashion social network from India, said it had raised $15 million from Tiger Global. Two existing investors, Binny Bansal (angel investor) and 5 Ideas Start up SuperFuel, will exit with nearly 10X return, said Mayank Bhangadia, co-founder, Roposo. He added that the company would utilise the money to strengthen its team, build technological infrastructure, enhancing and revamping the products.
This will be the third series, cumulatively. Including this round, the company has raised $21 million, said Bhagadhia. The investors include Tiger Global, India Quotient, 5 Ideas Start Up Superfuel and Bansal.
India Quotient, 5 Ideas Start up SuperFuel and Bansal invested less than $1 million. The firm got $5 million in Series-A funding in March 2015 led by Tiger Global and $15 million in Series-B funding.
Founded in 2012, Roposo is one of the leading social networks dedicated to fashion. The company was founded by IIT-Delhi alumni Bhangadia, Avinash Saxena and Kaushal Shubhank. The company has 60 people on its rolls and planning to increase this to 100-150 in the next 12 months. It will hire engineers and fashion designers to strengthen its offerings. “In the next one our target is to increase the user base to 10 million per month, by which we will have concrete avenue for revenue,” said Bhangadia.
This will be the third series, cumulatively. Including this round, the company has raised $21 million, said Bhagadhia. The investors include Tiger Global, India Quotient, 5 Ideas Start Up Superfuel and Bansal.
India Quotient, 5 Ideas Start up SuperFuel and Bansal invested less than $1 million. The firm got $5 million in Series-A funding in March 2015 led by Tiger Global and $15 million in Series-B funding.
Founded in 2012, Roposo is one of the leading social networks dedicated to fashion. The company was founded by IIT-Delhi alumni Bhangadia, Avinash Saxena and Kaushal Shubhank. The company has 60 people on its rolls and planning to increase this to 100-150 in the next 12 months. It will hire engineers and fashion designers to strengthen its offerings. “In the next one our target is to increase the user base to 10 million per month, by which we will have concrete avenue for revenue,” said Bhangadia.