The company plans to utilise the fresh capital to scale operations, strengthen brand building, invest in technology, expand to new markets and build an elevated customer experience
Fashion quick commerce startup Zilo has raised USD 15.3 million (Rs 140 crore) in a Series A funding round led by Peak XV Partners, which invested USD 8 million. Existing investors InfoEdge Ventures and Chiratae Ventures doubled down in the round with USD 2.5 million each.
The company plans to utilise the fresh capital to scale operations, strengthen brand building, invest in technology, expand to new markets and build an elevated customer experience, it said. The fundraise comes soon after Zilo partnered with celebrity stylist and fashion editor Anaita Shroff Adajania as Style Director and equity partner, a strategic collaboration aimed at enhancing curated fashion experiences on the platform.
“This round is a strong validation of our belief that fashion and speed don’t have to be trade-offs. With the backing of all our existing partners, and the creative leadership of Anaita, we are building a new category where curated fashion meets the immediacy customers now expect. The capital will help us scale thoughtfully, deepen our tech and deliver a truly elevated fashion experience at quick-commerce speed” said Padmakumar Pal, Co-founder and CEO, Zilo.
Over the next 12 to 14 months, the funding will help Zilo deepen its capabilities and expand its market presence, the company said. While quick commerce has scaled rapidly across categories, the fashion playbook in the segment is still evolving.
This round also witnessed participation from Alteria Capital, Stride Ventures and angel investors including Lalit Keshre (Founder and Chief Executive Officer, Groww), Kunal Shah (Founder, Cred), Sachin Oswal (Founder, Orginity), Ayyappan R (Founder, FirstClub), Abhishek Bansal (CEO, Shadowfax), Sreevathsa Prabhakar (Founder, Servify) & Preeta Sukhtankar (Equity partner, Foxtale & Luma Fertility).
