Venture Capitalists News Hubb
Advertisement Banner
  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact
No Result
View All Result
  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact
No Result
View All Result
Venture Capitalists News Hubb
No Result
View All Result
Home Venture Capital Funding

Fashion ecommerce startup Beyoung raises Rs 40 Cr from Klub

admin by admin
April 29, 2023
in Venture Capital Funding


Udaipur-based fashion ecommerce brand Beyoung has raised Rs 40 crore from revenue-based financing startup Klub. Beyoung will use the freshly raised funds for geographical expansion, the startup said in a statement. Additionally, it will also use the funds for technology upgrades, marketing efforts, and logistics improvements.

Shivam Soni, Founder and CEO of Beyoung, said, “This investment will enable us to accelerate our growth and expand our footprint across India. We are excited to open over 100+ offline stores in Tier II and III cities in 2023, which will provide us with a significant opportunity to reach out to a larger audience and bring our trendy and affordable fashion offerings to their doorstep.”

Founded by Shivam, Shivani Soni, Sakshi Soni, and Shankar Mali in 2018, Beyoung is involved in the manufacturing and sales of apparel and accessories for people between the age of 16 and 45 years.

According to a release shared by Beyoung, the ecommerce startup’s monthly recurring revenue has jumped 3X, recording an annualised revenue of Rs 150 crore. By the end of 2026, the startup plans to touch Rs 500 crore in ARR.

“We have seen the outcomes of innovations and enhanced consumer choice these investments have created over the last two years of association with Beyoung and look forward to growing this partnership,” said Sudharsan Venkatakrishnan, VP and Head of Capital Platform at Klub.

Before the onset of the festive season, Beyoung will be diverting the capital to push its marketing efforts.

Beyoung competes with the likes of The Souled Store and Bewakoof.com. According to a report by IBEF, the country’s ecommerce market was valued at $38.5 million in 2017 and is expected to be worth $200 million by 2027.

(The story was updated to fix a typo in the headline)





Source link

Tags: Beyoungecommerce startupJust InKlubUdaipur startup
Previous Post

Crypto Hiring: Phi Labs Has New Ecosystem Head to Drive Archway Blockchain Growth

Next Post

Neo Smart Economy Sees a Walk to Decentralization, Not a Race

Next Post

Neo Smart Economy Sees a Walk to Decentralization, Not a Race

Recommended

Bengaluru may see highest growth in office rent in Asia-Pacific region at 5-7% next year: Report

6 months ago

Binance Wins Dismissal of Lawsuit Linkedin to Pig Butchering Scam

5 days ago

Coinbase CEO To Sell 2% of His COIN To ‘Fund Scientific Research’

7 months ago

The Capital Quest | Vertex set to get LP commitment for fifth Southeast Asia, India VC fund

9 months ago

Crypto Loves Portugal — But How Long Will It Last?

9 months ago

The Capital Quest | Orda, Badili, Owoafara, Mobility for Africa and Solarise get funding

6 months ago

© Venture CapitaLists News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact

© 2022 Venture Capitalists News Hubb All rights reserved.