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Sistema Asia Fund leads Series B in social fashion platform Woplr

The fashion community and e-commerce platform started in 2013 pivoted from being a hyperlocal discovery platform to an influencer-led fashion commerce platform where buyers can shop the look and complete the transaction on the platform.

, ET Bureau|
Updated: Feb 09, 2017, 10.57 AM IST
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Wooplr operates in a space similar to Tiger Global backed Roposo which has now added other categories such as food on the platform.
Wooplr operates in a space similar to Tiger Global backed Roposo which has now added other categories such as food on the platform.
BENGALURU: Sistema Asia Fund, the proprietary fund floated by Russian conglomerate Sistema JSFC has made its first investment in social commerce platform Wooplr. The fund led the $ 8 million Series B round in the company, which also saw participation from Singapore-based Amereus Group and existing investor Helion.

The fashion community and e-commerce platform started in 2013 pivoted from being a hyperlocal discovery platform to an influencer-led fashion commerce platform where buyers can shop the look and complete the transaction on the platform.

"Over 2015 we have built the entire backend for brands where they can use the platform to showcase the inventory with them. Once the transaction is completed the brand ships the product while the customers can track it on our website. We are a marketplace and do not hold any inventory," says Arjun Zacharia, co-founder of Wooplr. The platform works with private labels of various marketplaces such as Koovs and Nykaa and standalone fashion brands like FabAlley. The platform currently has 200 brand partnerships.

"SAF's philosophy is to back established or emerging leaders in technology, technology-enabled and consumer brand businesses. In Wooplr, we found an emerging leader in the socially driven commerce space with its lean marketplace model and high virality quotient," said Dhruv Kapoor, managing director, Sistema Asia Fund Advisory.

The Wooplr platform which has 10,000 fashion influencers such as beauty bloggers and stylists sees 60-65% traffic coming in from the app while the rest comes through its mobile website. A third of its 30 lakh customer base uses the platform at least once a month.

"Globally companies like Mogujie (China) and Younique (US) have led socially driven commerce to greater heights and built Unicorns. We believe Wooplr is set up right to create unique experiences for fashion shoppers in India," said Evgeniy Ivanets, investment director at Amereus Group.

Wooplr operates in a space similar to Tiger Global backed Roposo which has now added other categories such as food on the platform. Online e-commerce platform Limeroad also works on a similar model where buyers can create different looks on its scrapbook.

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