A Direct-to-Consumer (D2C) startup company Rapidbox is active in footwear, fashion category and also in sports.
In the series A round funding the D2C startup company Rapidbox has announced $4.5 million fresh funds, led by SIG Venture Capital, The Asian Venture ( Capital Arm of Susquehanna International Group of Companies) , India Quotient, Tanglin Venture Partners and Ananya Goenka who is an investment banking analyst.
Startup company Rapidbox was launched in 2019, by entrepreneur duo Arun Agarwal and Manoj Baranwal. Rapidbox sells across various categories on its mobile app.
The full-stack tech-driven company sells its products through its app and on leading E-Commerce platforms like Myntra and Flipkart.
Arun Paliwal, a Co-founder of Rapidbox stated that the latest round of investment in the series A round reinforces investors’ faith in Rapidbox’s growth story.
The D2C company is currently trusted by over 2 million Indians. As a young brand, there is a lot of growth being seen in the fashion needs of consumers, mainly in footwear category.
It was launched to close the market gap in the footwear industry with a focus on consumer experience and uplifting product quality.
Rapidbox’s target customers are the aspirational consumers and young age people who valued good fashion at reasonable prices.
India is the second largest footwear producer and consumer market in the world. Rapidbox is an affordable fashion brand with a focus on quality and a fast design-to-launch. This strategy makes for a large market share among the Indian youth.
Gagan Goyal, General Partner at India Quotient said that the company has been growing with positive unit economics and high consumer love. He also added they were glad to be with the team again and hope to create India’s large-value fashion brand like Shein.
Bhavani Rana, Investment Adviser to SIG said that Rapidbox is fulfilling the aspirations of consumers in all segments. The consumers were exposed to the latest footwear trends through rapid innovation to deliver shoes at price points that work for the economy segment.
Develop a social shopping application designed to share discounted deals with friends and peers. Rapidbox is headquartered in Bengaluru, Karnataka.
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