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Fashion Brand Bewakoof Raises Rs 30 Crore From IvyCap Ventures

On Thursday, Bewakoof, a direct-to-consumer (D2C) fashion brand, announced that it had raised Rs 30 crore from IvyCap Ventures.

The new funds will assist the company. Its goal of becoming a Rs 1,000 crore company by 2024, according to the statement.

“IvyCap Projects Trust Fund II has invested Rs 30 crore in Bewakoof. The latest infusion arrives ten months after their last fundraising attempt. After raising Rs 8 crore from Investcorp in October 2019. Bewakoof raised Rs 8 crore in May 2020 “In a tweet, the company said.

As it prepares for the next phase of development. Bewakoof expects to use the funds to enhance the customer experience, technology, and new product categories.

Which was established in 2012, claims to have made over Rs 200 crore in revenue in the current fiscal year.

The business expects sales to be 30-35 percent lower than pre-COVID levels as a result of the pandemic. But with stronger unit economics than last year.

Institutional investors such as Investcorp, Uniqorn Ventures, and Pratithi Trust, as well as Angel investors such as Kunal, Rohit, and Kaushal Aggarwal, have backed Bewakoof.

By dmaico

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