Rajiv Mehta, CEO of Arvind Sports Lifestyle, and Ramakant Sharma, former VP (Engineering), Myntra and Co-founder of Livspace, have also participated in the round.
The latest investment will be used for marketing and enhancing Fynd’s tech infrastructure. “Our major purpose of raising the round wasn’t to gain more capital but to partner with stakeholders who can actually help us with their experiences and expertise,” Fynd Co-founder Harsh Shah said.
Founded by Farooq Adam, Harsh Shah, and Sreeraman MG, Fynd is a fashion e-commerce platform that brings the latest in-store fashion online. The O2O company directly sources products across various categories including clothing, footwear, jewellery and accessories, from the most prominent brands in the country. Fynd claims its integrated system allows for speedy delivery within four to six hours, and a complete assurance of product quality.
“Early last year, we completed the preliminary testing of our business model and were scaling up our business from Mumbai to nationwide. At that time we realised the need of expertise from industry majors who can actually guide us in building our product and also give us better industry exposure along with continuous feedback on our efforts. Around the same time, Anand, Ramakant, and Rajiv amongst others showed interest in our concept and the company and decided to help us in achieving our goals,” said Shah.
Recently, Fynd launched a new feature called ‘Fynd Store’ providing retailers an opportunity to increase sales through omni channel user-engagement. The new feature enables brands to capture the maximum number of sales, build sustainable loyalty and benefit from cross-selling opportunities across different stores of the same brand.
Initially incepted as Shopsense Retail Technology in 2012, it pivoted to Fynd in November 2015.