Myntra. com gets Premji Invest funding.
FASHION retailer Myntra. com has raised a fresh round of funding
from a group of investors led by Premji Invest, the investment company
floated by Wipro chairman Azim Premji. Founded by Mukesh Bansal in 2007,
Myntra's total equity capital raised now stands at $ 75 million,
contributed by-- apart from Premji Invest-- investment firms Tiger
Global, NEAIUV, IDG Ventures and Accel Partners. The site has about
50,000 fashion products from over 600 brands.
As per Comscore data, Myntra had the highest number of visitors, 24
million, in December 2013 among etailing sites. Last April, Myntra
acquired San Franciscobased Fitiquette, which offered a technology
platform for solving fitting and size issue while buying clothes online.
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