Jaipur-based hyperlocal fashion commerce portal Yufta has raised an undisclosed amount of funding in pre-Series A round from Ajay Data of Data Infosys Ltd, and a group of Mumbai and Dubai-based HNIs. Data recently participated in Jaipur-based Blue Box Media's funding round.
The raised funding will be used by the startup for technology development and expanding to Delhi, Bangalore and Mumbai in the next six months. Post funding, Data will be joining the company board of directors.
Founded in 2013 by Ritesh Khandelwal, Ravi Khandelwal and Tarun Sharma, Yufta curates fashion and has an omni-channel approach, wherein it aggregate local shops as well. Currently, it has 12 shops in Jaipur. The company claims to have a gross merchandise value of Rs 6 crore in the past one year, and claims to have shipped more than 1 lakh units till now.
Other startups which operating in fashion eCommerce segment include StalkByLove, Voonik and Limeroad.com among others. StalkBuyLove raised an undisclosed amount of funding from 500 Startups, Germany-based venture fund Littlerock and others. Voonik secured $5 million in its Series A round of funding from Sequoia Capital and Seedfund in June 2015. LimeRoad.com raised $30 million in Series C round of funding from Tiger Global and existing investors Matrix Partners and Lightspeed Venture Partners in March last year.
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