Indian fashion e-commerce platform, Fynd just announced its Series C round of funding which was led by none other than search giant Google.
While the amount raised was not disclosed, the round also saw participation from Kae Capital, IIFL, Singularity Ventures, GrowX, Tracxn Labs, Venture Catalyst, Patni family office and Hong Kong-based Axis Capital.
This is Google’s second direct investment in an Indian startup after leading a $12 million funding round, last December, in hyper-local and delivery concierge Dunzo.
Founded by Farooq Alam, Harsh Shah and Sreeraman MG in April last year, Fynd had raised $500,000 funding from IIFL, wherein there was also participation from New York based FJ Labs and Silicon Valley-based Rocketship.
The startup directly sources products from prominent brands in the country, across various categories including clothing, footwear and accessories, and brings them online.
With more than 8,000 outlets on board, the company plans to utilise the funds to work on engagement with retailers and consumers. Fynd Co-founder Harsh Shah said, “Our vision is to revolutionize the online and offline shopping experience across all channels and customer touch-points. We expect that the capital raised will help us further bolster our growth trajectory.”
“Fynd has built an impressive, tech-first platform that has tremendous potential to scale within and beyond fashion and India. It’s unique store-driven commerce approach, without inventory or warehouses, gives it a unique position in the marketplace” said Seema Rao, Head of Corporate Development – India, Google.