Lingerie brand Clovia raises USD 4 million

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Lingerie brand Clovia raises USD 4 million

New Delhi, Apr 12 (PTI) Lingerie brand Clovia has raised USD 4 million from its current and new investors including Singularity Ventures and former Bennett Coleman & Co CEO Ravi Dhariwal.

“Clovia has raised funding of USD 4 million, a post-Series-A funding, by current and new investors,” the company said in a statement today.

It further said: “Clovia will utilise the funds for marketing and boosting product and technology development, in addition to expanding sales channels”.

Clovia co-founder and CEO Pankaj Vermani said: “We are excited to welcome new investors in Clovia. We look forward to a long-term relationship with them. We are extremely excited to learn from experiences of the likes of Ravi who’ve developed some of the biggest consumer businesses in the country”.

Clovia, set up in 2013, designs and manufactures its own products. The company said it currently ships over 2,50,000 units per month.

This is published unedited from the PTI feed.