Wednesday, April 12, 2017

Lingerie startup Clovia raised $4 million funding

Noida based lingerie and sleepwear startup Clovia has raised $4 million funding from IvyCap Ventures, Singularity Ventures and Ravi Dhariwal, a former chief executive of Bennett Coleman & Co Ltd.

Clovia was founded in 2013 by husband-wife duo Neha Kant and Pankaj Vermani. The company said it use the funding for marketing, expanding its sales channels, and boosting product and technology development.

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Pankaj Vermani said, We are extremely excited to learn from the experiences of the likes of Ravi who have developed some of the biggest consumer businesses in the country.

Clovia produces its own products with an in-house design and sourcing team. It uses analytics to monitor sales trends and patterns and manage inventory, which it says helps in reducing operational costs.



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