 "Image via shutterstock.com")
Trupik Inc, a Hyderabad-based technology startup, is in the process of raising funds in a Series-A round of financing during the February-March 2016 time frame, according to its co-founder and chief executive officer Sridhar Tirumala.
The first round of venture capital (VC) funding, which in the investors' parlance is called Series-A, typically ranges from $2 million to $10 million.
"We intend to deploy the proceeds from the proposed fund-raising to expand our horizons beyond Hyderabad to the rest of India, before spreading our wings to Asia, including China, and the US by December 2016," he said.
Established in 2013 in the Silicon Valley by Sridhar Tirumala, Vikranth Katpally, David Harmon and Aravind Inumpudi, Trupik Inc relocated its operations to Hyderabad in October this year "in the spirit of Make in India."
Trupik, which had raised $1 million in a seed round from Silicon Valley-based Kommareddy Group of Investors a year-and-a-half ago, offers Trupik Connect, an advanced 3D body-mapping technology that gives users a shopping experience that lets them see how the latest styles from their favourite brands will drape on them, virtually, on their 3D personas, complete in every detail real-time, and on their smartphones.
"We currently have Raymonds, Wills Lifestyle, Indian Terrain and Allen Solly as our partners, with 11 others in the pipeline," Tirumala said, adding that Trupik was expecting over a million registered users in the next one year.
