Latest news with #SwaroopKrishnan
Fashion Network
29-04-2025
- Business
- Fashion Network
Mydesignation raises Rs 10.7 crore in funding round led by Multiply Ventures
Mydesignation, a direct-to-consumer (D2C) fashion and lifestyle brand has raised Rs 10.7 crore ($1.3 million) in a seed funding round led by Multiply Ventures. The funding round also saw participation by Veltis Capital, Sattva Ventures, Dominor Investment Holdings, and Green Trunk Ventures. The company will utilise the funds to strengthen its team, enhance technology, product innovation and offline expansion. Commenting on the funding, Swaroop Krishnan, co-founder of Mydesignation in a statement said, 'We've already achieved 100% year-on-year growth for four consecutive years while staying profitable. With this fundraise, our goal is to drive 200% growth, without compromising on our financial discipline or customer satisfaction.' Sanjay Ramakrishnan, founding partner at Multiply Ventures added, 'The team's journey of bootstrapping the brand over four years to its current standing is a story of grit, clarity on the opportunity, and very focused execution. As founders, Swaroop and Gopika have demonstrated remarkable financial discipline, a deep understanding of their consumers, and a brand-first mindset.' Founded in 2020 by husband-wife duo Swaroop Krishnan and Gopika Menon, Mydesignation claims to have strong customer base of over 5 lakh consumers.
Business Mayor
28-04-2025
- Business
- Business Mayor
Fashion startup MyDesignation raises $1.25 million in seed round
Representative Image New Delhi: MyDesignation, a fashion and lifestyle D2C startup, has raised $1.25 million (Rs 10.7 crore) in a seed funding round led by Multiply Ventures, with participation from Veltis Capital, Sattva Ventures, Dominor Investment Holdings, and Green Trunk Ventures, it said in a media release on Tuesday. This capital infusion will help MyDesignation accelerate its hiring, technology enhancement, offline expansion, and entry into newer geographies, according to a company's statement. Swaroop Krishnan, Co-founder and CEO, MyDesignation stated, 'We've already achieved 100% YoY growth for four consecutive years while staying profitable. With this fundraise, our goal is to drive 200% growth, without compromising on our financial discipline or customer satisfaction.' 'We never depend on any third-party platforms or marketplaces for growth. This gives us control over the entire customer journey and has helped us deliver one of the best brand experiences in fashion,' said Gopika B Raj, Co-founder and CCO of the company. 'Our D2C model enables us to stay closer to customer sentiment and feedback, which fuels our product design and communication strategy,' she added. Founded in 2020, the company has a customer base of over 5 lakh consumers, recording a 35% monthly repeat rate, and plans to double this user base within the year. READ SOURCE
