Prettysecrets a Mumbai based online lingerie platform raised a funding of $6 Million led by RB Investments. Orios Venture Partners its existing partner also participated in this round.
The funds will be utilised to add new products & categories on its platform and will invest to improve its supply chain & for marketing campaigns.
The startup was founded by Karan Behal in 2012. Karan Behal has an experience in exportm manufacturing, marketing and retailing of lingerie products. it aims to have sold more than 1000 products on its platform.
Initially PrettySecrets started as an offline lingerie brand under Lace- a multi brand lingerie store. Before shifting its business to online, it sold at 300 points of sale across India.
It faced competition from Amazon, Snapdeal, Zivame and Myntra. Since last 2 years it has sold on 12 e-commerce platform including Zivame a Bangalore based lingerie marketplace, and also enjoys a 15 percent market share in online lingerie market.
Zivame raised a funding of Rs 250 crore in its series C round of funding led by Khazanah Nasional Bhd- the investment holding arm of the Malaysia Government and Zodius Technology Fund. It’s existing investors IDG ventures, Kalaari Capital and Unilazer Ventures also participated in the round.
Other players in this segment are Bwitch, Cilory, Buttercups and Shyaway.
RB Investment an investment arm of Rajesh Bothra a Singapore based entrepreneur, it has made around half a dozen investment so far. Some of its investment includes Swiggy a food-tech startup, CapriCoast.com an online furniture startup, Delight Foods an online retailer of branded Indian Food products and 5 a sec, a laundry services.