Zivame Raises Bridge Funding Of Rs 60 Crore

Lingerie e-tailer Zivame has raised Rs 60 crore (around $8.6 million at the current exchange rate) in a bridge round of funding.

Existing investor Zodius Technology Fund led the investment while a clutch of high-net-worth individuals also participated in what is an extended Series C round, Zivame said in a statement. Financial services firm Avendus Capital is the parent of Zodius Technology Fund.

Zivame said that it will use the fresh capital to boost its retail, technology, product development and omnichannel initiatives. The Bengaluru-based company also has plans to raise a larger round later in the year, it added.

Run by Actoserba Active Wholesale Pvt. Ltd, Zivame was founded in 2011 by Richa Kar who previously worked with German software firm SAP.

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