Zivame raises funds to boost retail, augment technology

Online lingerie retailer Zivame has raised Rs 60 crore funding as a part of bridge round, led by Zodius Technology Fund and a group of high net worth individuals. The latest fund infusion, which is part of the company's Series C funding, will be followed by a larger round later in 2019. The funding will enable the company to further enhance its retail footprint and leadership in existing and newer markets. The funds will be used for ongoing retail expansion, augmentation of technology, product development and strengthening Zivame's omnichannel strategy.

Currently, Zivame has over 30 retail stores and aims to expand to more than 60 in a year. It also aims to strengthen its presence in major malls and high streets with a special focus on tier-I cities. The company would focus on metros like Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru and cities like Chandigarh, Pune, Kochi, Mysore and others. It would continue to ramp up offline presence (from the current over 800 retail points of sale), while maintaining leadership position in online space.