Fashion Technology

Voonik: For most delightful shopping experience

Who does not love shopping! And, if you love shopping,Voonik can  be your right place. From clothes to jewellery to footwear, all at just one marketplace. This is one platform where you can find 15,00,000 products from more than 4000 stores. You can shop for 3000 brands from top online stores.

Shopping paradise for ladies

Voonik is an online, Bangalore based, fashion marketplace for women. In 2013, the company was founded by Sujayath Ali and Navaneetha Krishnan. It is a shopping app for women, which allows them to buy clothes and accessories from different stores. You can choose things according to the trend and likings. What you will love most is that the platform is very pocket- friendly. You can get things at very affordable price. They have a great collection of fashionable products from Indian and International manufacturers. According to a web report the company has more than 8 million app downloads, 10 million registered users, $100 million Annual GMV and $13 million annual revenue  rate. You can do shopping using the Voonik Android App, iOS, and website.

Funding

In July 2016, the company has raised $3,000,000 in venture debt financing from InnoVen Capital. “We have been in conversations with InnoVen Capital for a long time now, and it’s a strong relationship that has been established over a period. Also, given their strong track record of working with the portfolio companies of our investors, there is a massive comfort factor”, stated Sujayath Ali, in indiaspark.com report. He has also added that the funds raised would mainly go into marketing sector, mainly directing towards television commercials. ” It’s a leaner version of how e-commerce can be done in India,” said Vinod Murali, managing director, InnoVen Capital India, in economictimes.indiatimes.com report.

Competitors

The startup competes with companies like Myntra, which is Flipkart owned, and LimeRoad. They are some strong contenders of Voonik among a host of fashion and lifestyle shopping portals.

Future Plans

The startup plans to use the funds in strengthening their products. They will also keep their focus on their menswear offering Mr. Voonik.  The company is also acquiring or acqui-hiring startups for their expansion and to increase their range of products. They have acqui-hired some companies like Zohraa, PickSilk, and Styl. In August 2015, a mobile platform that provides a virtual dressing room experience, TrialKart, was also bought by Voonik.

Voonik: For most delightful shopping experience
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