Online Lingerie Store Zivame.com Secures Series A Funding fromIDGVentures & Indo-US Venture Partners
Speaking about why they chose to invest, Venkatesh Peddi of IDG Ventures said, “Zivame is a clear leader in this category. There are 8 – 10 players in India in this category, and we have evaluated all of them. The product, Zivame team has built and the traction they have got so far is highly impressive. The team comes with a very strong background in retail operations and technology.”
Zivame.com, launched in August 2011, was founded by Richa Kar and Kapil Karekar. For more details on their background, and how they came up with the idea, read earlier coverage on YourStory.in.
Commenting on the recent investments in niche e-commerce sites, Venkatesh said, “We definitely believe in vertical play in e-commerce. The scope to create value is immense in vertical play.” He also added that there is scope for verticals like sporting equipment, home decor etc.