Kaaryah announced that it has raised pre-series A round of funding from Infosys veteran Mohandas Pai and The Saha Fund.
Online women-only fashion portal Kaaryah on Wednesday announced that it has raised pre-series A round of funding from Infosys veteran Mohandas Pai and The Saha Fund. In June this year, Ratan Tata, former chairman of Tata Sons, had invested an undisclosed amount in the company.
Kaaryah plans to use the funds for recruitment, digitization & automation, raw material sourcing, marketing and building a formidable women’s brand. The market in India for women’s western formal wear currently stands at R10,000 – R15,000 crore ($1.5 -2 billion) and is poised to grow twice of that in the next three to four years.
Commenting on the development, Mohandas Pai said, “Kaaryah is based on the fundamental principle that fashion is more than elite brands telling you what you need to look like. Fashion is about how you – the individual – feel in what you wear. Just like any other space, the fit is the first piece that needs to fall in place, and clothes are no different.”
Launched in 2014 by Nidhi Agarwal to cater to the largely women’s western wear category in India, KAARYAH, a technology enabled consumer data analytics driven apparel brand serves as many as 3500 orders monthly and also sells across marketplaces like Myntra, Jabong, Flipkart, PayTM, Snapdeal, LimeRoad apart from KAARYAH.com.