Malaysian fund invests in Zivame

Online lingerie retailer Zivame said it has raised Rs 250 crore in Series-C round of funding from Zodius Technology Fund and Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia.

Existing investors Unilazer, IDG Ventures and Kalaari Capital also participated in the round.

The company plans to use the funds to enhance its offering. Getting more women to shop online, strengthening its merchandise offering with innovative products, increasing consumer touch points, is integral to its vision, it said.

The company also announced the launch of its app.

Richa Kar, Founder and CEO, Zivame said, "Worldwide, lingerie is the most exciting category in the women's apparel segment. The Indian woman, who is more confident than ever before is indulging herself in lingerie to express her individuality. She wants to look and feel good and has the economic independence to splurge on lingerie she never had access to before. Zivame is the catalyst of this change; using technology to understand her better and providing her an unsurpassed lingerie experience."

Founded in late 2011, Zivame has played a pivotal role in bringing the category online, increased consumption in the category and today enjoys a lion's share of the online lingerie market.