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Roposo raised $5 million funding.
By Raif Karerat
WASHINGTON, DC: Roposo, a social network platform devoted to fashion products based out of Gurgaon, India, announced it has raised $5 million in Series A funding led by Tiger Global.
Other participants in the round include returning investors India Quotient and Binny Bansal, the co-founder and chief operating officer of Indian e-commerce giant Flipkart. Along with its seed funding of $1 million, Raposo’s has now raised a total of $6 million in capital, according to TechCrunch.
Raposo, which is available on Android and iOS with a web version in the works, lets consumers save and categorize clothing and makeup and allows them to assess which fashion-related trends are hitting their peak at any given time.
“Fashion discovery is an untouched space in India and our technology team has come up with unique ways to make this search highly intuitive,” Roposo.com co-founder and chief executive Avinash Saxena told the Press Trust of India.
Raposo also enables companies and stores to reach out to their client-base by creating accounts for their specific brands. TechCrunch reports there are currently about 150 fashion e-commerce stores that utilize Raposo to market their wares.
In a prepared statement, co-founder Mayank Bhangadia stated, “We want Roposo to be better than Google and Facebook for fashion searches. We are sure serious fashion seekers will make Roposo their default fashion search engine.”
Flipkart declined to comment when asked about any future projects with Roposo, but if the latter is able to harness Flipkart’s already established reach and clout, the company may well be able to leapfrog its formidable competition in South Asia.
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