Jaypore, an online platform for contemporary Indian apparel and jewellery, has raised USD 5 million (around 35 crore) from Aavishkaar, an early-stage investment firm.
"We will continue to focus on expanding the product offering including our own Jaypore private label. The funds secured now will be used primarily for investment in scaling up the technology platform, hiring quality talent and brand building," Jaypore CEO Puneet Chawla said in a statement.
The handmade apparel, jewellery and home decor market in India is highly unorganised and could roughly be pegged at over USD 7 billion.
Founded in 2012, Jaypore aims to present Indian, craft based designs in a contemporary application to appeal to domestic and global audience.
