Women's western wear portal Kaaryah on Wednesday said it has raised a Pre-Series A round of funding from Mohandas Pai and The Saha Fund.
"Kaaryah today (Wednesday) announced that it has raised Pre-Series A round of funding from Mohandas Pai and The Saha Fund," the online "western non casual wear for Indian women" portal said in a statement.
"The company plans to use the funds for recruitment, digitization and automation, raw material sourcing, marketing and building a formidable women's brand," it said.
Kaaryah had earlier this year raised funds in an angel round from Ratan Tata.
"We are thrilled to have the backing of Mohandas Pai and The Saha Fund. The fact that business leaders of the stature of Ratan Tata and now Pai have invested in us is a huge validation of our entrepreneurial effort and our business potential," said Nidhi Agarwal, founder and chief executive, Kaaryah.
"We will deploy the funds to scale our operations and reach out to as many women as possible", she added.
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Launched in 2014, Kaaryah caters to the mostly unserved segment in India of women's western wear.
With the latest and largest catalogue of western wear for women in India, Kaaryah offers the perfect fit in western apparel from everyday office wear to non-casual party wear, it said.
"The company focuses on providing the perfect fit, fashion forward western wear in as many as 18 different sizes that complements the silhouette of an Indian woman," the statement said.
The Indian women's western formal wear market is estimated to be currently worth around Rs.10,000 crore to Rs.15,000 crore ($1.5 to $2 billion).