Former Myntra chief’s fashion startup Virgio has raised $37 million in a series A funding round.
The funds will go toward hiring and technology development.
The tech foundation was always best to evolve trends on social media platforms and predict the demand for each direction.
The startup fashion tech allows designers real-time access to consumer preferences. It has operated on depth and discount models.
Virgio launched the test and scale method by making runway fashion affordable and accessible for all consumers, stated Virgio CEO and Founder Amar Nagaram.
Funding round led by Alpha wave, Prous Ventures and Accel with the required offerings.
It is trying to solve this through graceful design, manufacturing and purchasing processes in real-time, offering Gen Z and late millennials. A platform where consumers can discover and obtain new trendy apparel.
Investment in the funding round was seen by Kunal Shah, Vidit Aatrey, Mukesh Bansal, Saif Ali Khan, Binny Bansal, Bhavish Aggarwal, Sriharsha Majety and Sameer Nigam.
Virgio is uniquely positioned to capture an ample opportunity in India’s Fashion industry with its Tech-first model. The company also believes in an expert funding team.
Image Credits: Devdiscourse
Virgio (Ameyam Enterprise Private Limited), fashion is not just about size and fit. At virgio, they believe is also about Expressing and Evolving.
Fashion must be inclusive and affordable. It is not just passive labels that dictate what’s in and out. We are a living, breathing community. All-inclusive, gender neutral, co-creating the voice for the next generation of expressible.
A young label is taking tech-led, design-forward manifestation of snatched trends for the Gen Z wave makers. Virgio is everything now, everything new and others tomorrow.
Virgio app stands for the dawn of a new brand of social commerce. A platform that defines and disrupts how fashion is discovered, unveiled, experienced, favorited and owned. They were the latest fashion version where consumers fit in and stand out.
Featured Image Credits: Prosus
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