Industry

Online fashion firm Fynd secures funding round led by Google

Fashion e-commerce platform Fynd has closed its Series C round of funding led by Google.

The quantum was not disclosed.

The funding round also saw participation from Kae Capital, IIFL, Singularity Ventures, GrowX, Tracxn Labs, Venture Catalyst, Patni family office and Hong Kong-based Axis Capital among other angel investors, according to an official release.

The firm said the funding would enable the platform to further enhance the way it engaged with consumers and retailers. Its O2O platform directly sources products across various categories, including clothing, footwear, jewellery and accessories, from the most prominent brands in the country (via their in-store inventory) and brings them online. Besides this, Fynd’s in-store product ‘Fynd Store’ helps the brand stores save their in-store sales which otherwise are lost due to unavailability of the product.

Fynd had earlier raised a round in April 2017 led by IIFL with participation from New York-based FJ Labs and Silicon Valley-based Rocketship among other participating existing investors. With 8,000+ outlets on board, Fynd’s unique proprietary inventory integrations enable customers to discover fashion in real-time and know the exact specifications of the products available.

“Our vision is to revolutionize the online and offline shopping experience across all channels and customer touch-points. We expect that the capital raised will help us further bolster our growth trajectory,” Fynd Co-founder, Harsh Shah said.

“Fynd has built an impressive, tech-first platform that has tremendous potential to scale within and beyond fashion and India,” said Seema Rao, Head of Corporate Development - India, Google.” Fynd’s unique store-driven commerce approach, without inventory or warehouses, gives it a unique position in the marketplace.”

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Printable version | Aug 7, 2020 4:09:19 PM | https://www.thehindu.com/business/Industry/online-fashion-firm-fynd-secures-funding-round-led-by-google/article23383121.ece

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