Fynd raises $0.5 million from Rocketship Venture Capital

Fynd, the fashion discovery and ecommerce portal, has raised $500,000 in a Series A funding round from Rocketship Venture Capital firm. The latest fund raising is in continuation of the earlier $0.5 million capital raising in March’17 by the startup. It is expected to leverage the fresh capital to strengthen its technology backbone, optimise operations and further enhance its customer offerings as well as strategies. The startup is also looking to leverage Rocketship’s expertise in data mining and machine learning capabilities.

Harsh Shah, Fynd’s co-founder, said that “Rocketship will help create value for Fynd by regularly monitoring our data, comparing it with our competitors and the market and sharing their insights with us. We’re excited to grow with the support of our investors not only through their capital infusion but also through their extensive domain knowledge and vast strategic experiences”. Sailesh Ramakrishnan, Partner with Rocketship, also expressed solidarity in the deal and said that “Fynd is revolutionizing offline to online retail and through its technology and constant innovations, it has tremendous potential in the Indian market”.

The startup directly sources products across various fashion categories such as clothing, footwear, jewellery and accessories, from the most prominent brands in the country. It currently boasts of several reputed entrepreneurs as its early investors including Anand Chandrasekaran, former Chief Product Officer at Snapdeal; Rajiv Mehta, Chief Executive Officer of Arvind Sports Lifestyle; and Ramakant Sharma, ex-VP – Engineering at Myntra and Co-Founder of Livspace.