Ex-Flipkart executive Ankit Nagori invests in fashion discovery platform Wooplr

Online fashion discovery platform Wooplr has raised an undisclosed amount in funding from Ankit Nagori, co-founder of healthcare start-up CureFit and former chief business officer at Flipkart.

As a part of this funding deal, Ankit Nagori will join Wooplr’s board of directors, said the company. Arjun Zacharia, founder and chief executive officer at Wooplr said:

Ankit has seen the evolution of our social commerce platform and his joining the board at this point is, for us, definitely a big win for Wooplr. His vast experience of building India’s biggest fashion marketplace at Flipkart made him the right person to have along on our journey, to change the way fashion discovery is done.

Commenting on the investment, Ankit Nagori said in a statement:

Wooplr’s focus on select top quality fashion brands is a step in the right direction. What excited me about Wooplr is the fact that they are building a fundamentally unique marketplace that combines the influencer-led format of shopping and the discovery of unique new brands. I see that brands are considerably changing their marketing strategies and influencers are becoming an important part of this new approach to reach out a young and dynamic audience.

Earlier in 2016, Ankit Nagori resigned from his position of Chief Business Officer at Flipkart and along with him Mukesh Bansal, co-founder of Myntra also resigned from Flipkart. They both have co-founded healthcare startup Curefit that has raised $15 million till now. It also acquired a couple startups this year — The Cult, Kristy’s Kitchen, and The Tribe Fitness Club.

Interestingly, the latest capital infusion comes just about two months after Wooplr raised $8 million in a fresh fundraising round led by Sistema Asia Fund. Amereus Group and existing investor Helion Ventures also participated in that round.

Earlier, the company raised $5 million in a Series A round from Helion Ventures in January 2015. Last year, it raised an undisclosed amount of funding from a bunch of angel investors.

Wooplr enables people to discover new products from local stores around them through recommendations from friends and other social influencers. Based upon the shared content and various other parameters like location and interests, it presents a personalized, curated feed of fashion products to help users get to know about fashion products in local stores.

It works with private labels of various marketplaces such as Koovs, Nykaa and standalone fashion brands like FabAlley. The platform currently has over 200 brand partnerships.

The company had earlier claimed that it has 10,000 fashion influencers on-board such as beauty bloggers and stylists and sees 60-65 percent traffic coming in from the app while the rest comes from its mobile website.

Source:: https://thetechportal.com/2017/04/20/ankit-nagori-wooplr-investment/

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