Buttercups a Bengaluru based online lingerie brand has raised an undisclosed amount of funding from Anand Chandrasekaran- Ex- CPO of Snapdeal and existing investors Manoj Varghese and Kanwaljit Singh.
The funds will be used in acceleration of its growth plan, both offline and online. Currently it is working towards opening its experiential and innovative fitting rooms across 12 cities.
It was launched in 2013 by Arpita Ganesh. It designs and manufactures their own range of lingerie wear. It is operated via both offline and online channels. It claims to have doubled its customer acquisition in the past 12 months.
Arpita Ganesh, Founder and CEO said,
“We have always been clear about how we want to build the business. We are a digitally native brand focusing on the quality of our products, and a great customer experience. The unique online quiz, which guarantees a perfect fit and allows us to scale beyond geographic constraints, as well as the personalised fitting rooms experience, are both results of this focus.”
In the next 2 years the startup aims to open 15 new fitting rooms across 10 cities across India. It claims to be getting around 500 orders a month, of which 50% are coming from Bengaluru itself, 30% comes from Mumbai and Delhi together.
Other startups in the same segment raised funding which include PrettySecrets raised $6 million in Series B round of funding. Clovia formerly known as Cloe raised Series A round of funding in 2015.