Online shopping portal Zivame.com gets $ 6 million fund infusion from PE firms

NEW DELHI: Online shopping portal Zivame.com today said it has received a fund infusion of USD 6 million from private equity firms.

The amount has been raised from Unilazer Ventures, a PE firm promoted by UTV Group founder & CEO Ronnie Screwvala and two of its existing investors, IDG Ventures and Kalaari Capital Partners, Zivame.com said in a statement.

Commenting on the development Zivame.com, founder & CEO Richa Kar said:" The Series-B round of funding gives us a chance to extend this support to a few more million women out there. I am proud to have Unilazer on board for our Series-B funding. Their vast experience in building successful consumer brands will help Zivame in its next phase of growth."

The Bangalore-based firm has pioneered in the online lingerie category in India and is targeting online sales of Rs 1,000 crore in next 4-5 years, the statement said.

According to the online retailer, the funds would be used in building the intimate-wear category, reaching out to more women consumers across the country and to harness the power of technology.