Chennai-based Indian ethnic wear e-tailer Cbazaar.com has secured an undisclosed amount in Series B funding led by Forum Synergies. Existing investors Inventus Capital Partners and Ojas Venture Partners also participated in the round.
The funds will be used to strengthen Cbazaar’s presence in its core markets and to accelerate growth in other potential markets, the company said in a statement. It will also be investing in technology, marketing and enhancing its supply chain.
Cbazaar had raised Series A funding of US$3.5 million from Inventus Capital Partners and Ojas Venture Partners in May 2012.
It was started by Rajesh Nahar and Ritesh Kataria as an online marketplace called Chennaibazaar.com. In 2005, the name was changed to Cbazaar.com. In 2007, it acquired Homeindia.com, a traditional bridal wear specialist.
Currently, it claims to offer Indian ethnic wear across 130 countries with services including designing, tailoring and styling.
There are many players in this segment offering similar products such as IndianRoots, an e-commerce platform launched by NDTV offering ethnic wear. Utsav Fashion also retails ethnic wear to different countries across the world.