Fashion Rental Startup Flyrobe Raises $5.3 Mn
Fashion Rentals are making the News !
About the funding
Founded in 2015 by IIT Bombay alumni Pranay Surana, Shreya Mishra, and Tushar Saxena and run by Omapal Technologies Pvt. Ltd., Mumbai-based on-demand fashion rental startup Flyrobe has recently raised $5.3 million (around INR 35 crore) in Series A round of funding, which was led by IDG Ventures. Sequoia Capital, Japan-based GREE Ventures and Paytm Founder also participated in the round. Previously, the startup has raised a seed funding of $1.7 Million from Founders of Snapdeal-Rohit Bansal and Kunal Bahl, FreeCharge- Sandeep Tandon and Kunal Shah, Powai Lake Ventures- Zishaan Hayaath and former executive Abhishek Jain.
Flyrobe has emerged as the largest and beloved fashion app in India within a short time. The startup is associated with designers such as Ritu Kumar, Masaba Gupta, and Shehla Khan. It directly competes with Bengaluru-based Zapyle.com, which also lets users shop and sell premium and luxury fashion brands on the platform. Blinge, Elanic, LibeRent, Stylish Play, Share Wardrobe and Etashee are among some famous portals renting out premium fashion/pre-owned apparel in India, which are trying to replicate the success of international players like Poshmark, Secoo, and Glambot.
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