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Thursday, August 5, 2021

[Funding alert] LetsDressUp raises $300K in pre-Collection A from Titan Capital, Sequoia Capital, others

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LDU (LetsDressUp), India’s model of the Sew Repair platform, on Tuesday stated it raised $300,000 in a pre-Collection A spherical from Titan Capital and different marquee teams of traders. 

The funding noticed participation from Sequoia Capital, Lykke Capital, Hauz Khas Ventures, and serial investor Sweta Rau. Current traders, together with Kaushika Madhavan (Managing Associate and Nation Head, Kearney India), Abhishek Malhotra (Senior Associate, Mckinsey & Co), Anshuman Maheshwary (COO, IIFL Wealth & Asset Administration), Saurabh Singh (Senior Associate, Kearney India), Gautam Midha (VP, Blackwatch) additionally participated within the spherical. 

The startup stated it should use the funds to refine the tech product, construct the management staff, and considerably scale up the enterprise.

Founders

Aditya Balani, Co-founder, LDU, stated,

“To have been backed by the top industry leaders who understand our business and have a keen interest in new-age technologies is altogether an excellent motivation for our business. We are looking forward to strengthening our team and building and redefining our tech product to satisfy our customers’ needs. The journey ahead looks much exciting as we are a step closer to our vision to create India’s own Stitch Fix.”

Based by husband-wife duo Aditya Balani and Drishti Anand, LDU is a D2C model empowered by expertise. For the customers, LDU offers a platform the place they will get outfits of their dimension and their fashion with the clicking of a button.

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LDU additionally allows the execution by digitising your entire provide chain by way of an app for the supply-side companions, which improves effectivity considerably.

 

Bipin Shah, Associate at Titan Capital, stated, 

“LDU has set a mission for themselves to provide personalised clothing by leveraging technology to meet the needs of its customers. They aspire to give India its own version of Stitch Fix. We are extremely excited to have partnered with LDU and are looking forward to the journey ahead.”

LDU is chosen by Lightspeed Enterprise Companions among the many high 17 startups (out of 1200+ startups) from Southeast Asia for 2021. The startup claims to have been rising at 25 % month-to-month with optimistic unit economics, retention metrics, and a return fee of lower than 1 %.

 

Kaushika Madhavan, Managing Associate and Nation Head, Kearney India, stated,

“LDU is establishing itself as a key player in the Indian market. They are committed to solving the problem of Indian women basically from urban regions to provide them with the perfect size and style of the outfit with the help of technology. I am happy to have been associated with such an innovative platform since inception.”

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