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Alia Bhatt-backed fashion portal StyleCracker gets new funding cheque
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StyleCracker, a fashion portal where users can order celebrity stylist-curated products, has raised $2 million (Rs 14.35 crore) from US-based investor AMJ Ventures.

The startup, which had secured an funding from actress Alia Bhatt two years ago, will use the fresh capital to strengthen its capabilities in machine learning and personalisation, co-founder and managing director Dhimaan Shah said in a statement.

The startup, run by Mumbai-based Kanvas Consultancy Pvt. Ltd, was founded by Shah and Archana Walavalkar in 2013. It connects women shoppers with designers for advice on fashion and styling trends. It also provides users access to a catalogue of looks.

The startup had raised around $1 million in its first round of funding from a bunch of high-net-worth individuals in September 2015.

Anish Patel, founding partner at AMJ Ventures, said the capital will help accelerate StyleCracker’s growth.

AMJ Ventures is a family fund that invests in early-stage consumer and consumer-tech companies. Its other investments in India include online lending platform Avail Finance and student education financing platform Propelld. Patel said AMJ Ventures aims to invest in more businesses in the country.

There have been a few investments in fashion startups over the past few months.

Last month, fashion rental and styling platform Stage3 raised $2 million in a pre-Series A funding round led by early-stage venture capital firm Blume Ventures.

In August, GetNatty Designtech Pvt. Ltd, an online-to-offline designer brands aggregator and fashion discovery platform, raised seed funding. In the same month, billionaire Mukesh Ambani-led Reliance Industries Ltd said it would acquire a majority stake in Shopsense Retail Technologies Pvt. Ltd, which runs fashion portal Fynd.

In January, Matrix Partners India led a seed round of funding in Bengaluru-based Zoomtail Technologies Pvt. Ltd, which offers e-commerce enabler solutions for fashion retailers.

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