Latest news with #Slikk
Fashion Network
a day ago
- Business
- Fashion Network
Slikk raises $10 million in series A funding round led by Nexus Venture Partners
Fashion delivery platform Slikk has raised $10 million (Rs 85 crore) in an all-equity series A round led by Nexus Venture Partners, with participation from existing investor Lightspeed. Earlier, it had raised $3.2 million in a seed round from Lightspeed. The company will utilise the funds to fuel its next phase of growth that includes launch of new lifestyle categories, rollout of instant returns, and expansion into more urban pin codes. Commenting on the funding, Akshay Gulati, co-founder & CEO at Slikk in a statement said, 'Slikk, since inception, has delivered a high-quality customer experience through our 60-minute delivery model. Brands have been able to unlock new users at a hyperlocal level. With this new round, we intend to double down on that promise and offer a significantly wider range of products and experiences to our customers.' Pratik Poddar, Partner at Nexus Venture Partners added, 'Having watched quick commerce reshape India's consumer behaviour, we firmly believe fashion is the definitive next frontier for digital disruption. The Slikk team's deep category insights and strategic execution are precisely what this moment demands. We're incredibly excited to be long-term partners in shaping this future.' Founded by Akshay Gulati, Om Prakash Swami, and Bipin Singh, Slikk delivers clothing and accessories within 60 minutes in select areas of Bengaluru.
Time of India
4 days ago
- Business
- Time of India
NEWME launches 60-min fashion delivery in Bengaluru, plans expansion to Mumbai and Hyd
Bengaluru: Fast fashion brand NEWME has launched a 60-minute fashion delivery service in Bengaluru under its new initiative, NEWME Zip, following its 90-minute delivery pilot in Delhi-NCR, which started 6-months back. 'Gen Z is clear in what they want - style that's current, access that's instant, and experiences that feel personal,' said Sumit Jasoria, co-founder and CEO, NEWME in a chat with ETRetail. 'The overwhelming response to our pilot confirmed that fast fashion can't afford to be slow. With NEWMe Zip and a promise of under-60-minute delivery in Bengaluru, we're building on what worked, pushing boundaries, and setting new benchmarks in fashion-tech innovation.' Speaking on the evolution of the initiative, Jasoria shared, 'We are in the business of fashion, where we bring new styles every single week, and that's our prime core value proposition. While fashion delivery is evolving, the market is changing and as a technology-first company, we have to also innovate to stay relevant to the consumers. And this was an initiative which we picked last year.' NEWME is currently operating the Zip model in Bengaluru through a combination of dark stores and its own retail outlets. While the brand works with third party delivery, the company is now testing in-house riders in Bengaluru, Jasoria said. The brand plans to expand its quick delivery offering to Hyderabad and Mumbai over the next quarter, he shared. NEWME is currently operating 14 offline stores and plans to add 10–12 more in this year. Commenting on the brands performance, Jasoria said that the fashion retailer has reported 3x growth in the last fiscal and is targeting similar journey this year. Quick commerce is increasing traction in categories beyond grocery. Earlier on Tuesday, 60-minute fashion delivery startup Slikk announced that it has raised USD 10 million in a funding round led by Nexus Venture Partners and Lightspeed. Last year in December, Myntra forayed into 30-minute delivery with M-Now.
Fashion United
4 days ago
- Business
- Fashion United
Slikk secures 10 million dollars to expand fast fashion delivery and Try & Buy model
Slikk, an online platform that delivers clothing and accessories within 60 minutes in Bengaluru (southern India), secured 10 million dollars in a series A round. Nexus Venture Partners led this round, with participation from Lightspeed. The founders announced this via the career platform LinkedIn. Slikk is using the investment to expand its range to new categories such as beauty and shoes, introduce direct returns and expand the service in more urban areas. Lightspeed is doubling its investment and re-entering shortly after the seed round of 3.2 million dollars in March. Apparel Resources reports that Multiply Ventures and other investors are also participating. The founders Akshay Gulati, Om Prakash Swami and Bipin Singh started Slikk in Bengaluru in March 2024. The city is known as the centre of India's tech industry. Slikk combines fast delivery with a Try & Buy model, where customers can try on clothes before deciding to buy them. The platform anticipates the trend-sensitive and fast purchasing cycles of young consumers. It offers over 80 brands, including Snitch, The Souled Store, Freakins, Uptownie and Bewakoof. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Entrepreneur
5 days ago
- Business
- Entrepreneur
Slikk Raises USD 10 Mn in Series A Led by Nexus Venture Partners
As it scales, Slikk will diversify into categories such as beauty and personal care (BPC), footwear, accessories and wearables, while extending its presence across key metros. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Slikk, a pioneering quick-commerce fashion platform, has raised USD 10 million in an all-equity Series A round led by Nexus Venture Partners, with Lightspeed returning as a key participant. This follows their earlier seed round of USD 3.2 million raised from Lightspeed in March this year. The newly secured funds will be deployed to expand Slikk's lifestyle offerings beyond fashion — into beauty, personal care, footwear, accessories, and wearables — and scale operations to more urban pin codes. Slikk will also roll out instant returns, further enhancing its hallmark promise of 60-minute doorstep delivery with unmatched customer convenience. Founded in 2023 by Akshay Gulati (CEO), Om Prakash Swami (CTO), and Bipin Singh (CPO), Slikk is reshaping e-commerce by merging speed, style, and service. The founding trio brings rich expertise in commerce and tech, now channelled into building a category-defining brand. "Slikk, since inception, has delivered a high-quality customer experience through our 60-minute delivery model," said CEO Akshay Gulati. "With this new round, we intend to double down on that promise and offer a significantly wider range of products and experiences to our customers." Serving a style-conscious demographic of college students, young professionals, and trend-driven urban shoppers, Slikk stands out with its Try & Buy model, allowing customers to try on clothing before committing, and enjoy instant refunds for seamless returns. Pratik Poddar, Partner at Nexus Venture Partners, shared, "Having watched quick commerce reshape India's consumer behavior, we firmly believe fashion is the definitive next frontier for digital disruption. The Slikk team's deep category insights and strategic execution are precisely what this moment demands." Rahul Taneja, Partner at Lightspeed, added, "We backed Slikk at the seed stage because their take on fashion commerce was refreshingly ahead of its time. We're happy to double down on our investment and support the team's continued growth." As it continues to redefine online fashion shopping, Slikk is not just delivering outfits — it's delivering a new standard in Indian e-commerce.
Time of India
5 days ago
- Business
- Time of India
Slikk raises $10 million in Series A led by Nexus Venture Partners to fuel 60-minute fashion commerce push
New Delhi: Quick-commerce fashion startup Slikk has raised $10 million in Series A funding , led by Nexus Venture Partners with participation from existing investor Lightspeed . The Bengaluru-based platform will use the capital to expand its category offerings, roll out instant returns, and deepen its presence across urban India . 'This round allows us to double down on experience and expand into categories like beauty, personal care, accessories, and footwear,' said Akshay Gulati , Co-founder and CEO, Slikk. 'We're also focused on introducing instant returns and scaling to more pin codes.' With its 60-minute fashion delivery model, the brand is targeting impulse-driven Gen Z and millennial consumers with a blend of speed, curated fashion, and convenience. The platform offers Try & Buy, instant refunds, and one-hour delivery. Founded by Gulati, Om Prakash Swami (CTO) and Bipin Singh (CPO), Slikk currently operates in Bengaluru and plans to expand across key metros. With India's apparel market projected to hit $109 billion and beauty & personal care set to cross $34 billion in 2025, the company is eyeing a slice of India's fast-growing lifestyle commerce pie.
