Online lingerie retailer Zivame is set to increase its physical space.
The brand has raised Rs. 60 crore in a bridge funding round led by equity firm Zodius Technology Fund.
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Zivame mulls to use the capital to twice its brick-and-mortar store count in 2019, from 30 to 60.
The retail expansion will focus on Tier 1 cities including Delhi-NCR, Mumbai, Pune, Bengaluru, Kochi, Kolkata, Chennai, Mysore, and Chandigarh.
“The funding will enable us to further enhance our footprint and leadership in existing and newer markets as we continue to build on our mission to be the destination for women for all her intimate needs. We continue to build the category as the Indian lingerie market is largely unorganised and under-served,” reportedly said Amisha Jain, CEO, Zivame.
Jain added that the funds will also be used to enhance technology and product development.
A larger funding round is planned for later in 2019.