Fashion-tech platform ZILO and ad-tech firm MobiYoung have secured backing from venture capital firms and individual investors in separate funding rounds, the companies said on Friday.
ZILO has secured $4.5 million (Rs 38.5 crore) in a seed funding round led by Info Edge Ventures and Chiratae Ventures to expand its hybrid supply chain and its geographical presence beyond Mumbai, and deepen brand partnerships.
The startup plans to open in other major Indian cities by the end of the year, it said in a statement.
ZILO is a fashion platform for online and offline shopping which offers outfits from top brands such as Levi’s, Louis Philippe, United Colors of Benetton and Rare Rabbit, among others in under 60 minutes. The app offers features such as home trials allowing customers to even return items at their convenience in a single interaction; Ask ZILO that provides personalized style recommendations, and a Style Planner that helps match outfits. The startup was founded by Padmakumar Pal and Bhavik Jhaveri.
MobiYoung Group
MobiYoung Group, the parent company of out-of-home (OOH) ad tech and media aggregation platform DGTOOHL, has secured an undisclosed amount in funding from CashKaro co-founder Swati Bhargava.
The company said the funding will help it expand wider across Indian metropolitan cities and foray further into the Asia Pacific market. MobiYoung will also invest to accelerate the development of its programmatic and analytics-led engine for performance-driven OOH media.
MobiYoung, led by Anuj Bhandari, was founded in 2018. It is an ad-tech and marketing company which helps brands make over 150,000 monthly conversions through mobile-first advertising solutions. The startup caters to sectors such as fintech, gaming, e-commerce, and edtech. It uses real-time tracking and an affiliate network to deliver user acquisition.
The company claims to have partnered with over 300 partners, including Sharda University, HDFC Mutual Fund, ixigo, and Kotak Mahindra Bank.
