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Lingerie brands startup Inner Sense has secured Rs 2.5 crore ($385,000) in the startup’s pre-Series A round from Funding and incubation platform Venture Catalysts.
Dharmesh Dalal, Vijay Lakhani and Matulya Shah, Venture Catalysts were the major investing partners present as per the company’s statement.
The company will use the capital for expansion, said co-founder Lakhani, an NIFT graduate.
Dalal, partner at Ekkum Advisors LLP and one of the investors, said limited competition in the women’s innerwear segment and the founders’ expertise in textiles and product design will help Inner Sense expand.
Mumbai-based investment platform usually invests between $250,000 and $1 million in early-stage startups. It operates in seven cities Delhi, Mumbai, Bengaluru, Kolkata, Lucknow, Raipur and Surat.
The investment platform was founded by Dr Apoorv Sharma, Anil Jain, Anuj Golecha, and Gaurav Jain in December 2015. In July last year, it raised $500,000 from Zaffiro Ventures.
Some other significantly funded players in this segment include Noida-based Purple Panda Fashions Pvt. Ltd, which owns Clovia; Mumbai-based MTC Ecom Pvt. Ltd, which owns Pretty Secrets, and Bengaluru-based online lingerie retailer Buttercups Intimates.
Inner Sense was set up in 2014 by Abhishek Lodha and Neerja Lakhani. It sells organic antimicrobial innerwear products mainly through 18 e-commerce platforms in India and four overseas. It offers 120 styles across categories in women’s innerwear.
