Hyderabad-based start-up CloudTailor, a well-known D2C women’s fashion brand, has received an enthusiastic response on Tyke, the digital private investment gateway platform.
CloudTailor was oversubscribed by an astounding 380 per cent, easily causing an upswing in the company’s fundraising efforts for their Pre Series A funding round.
As per reports, the funding round culminated in securing Rs. 5 crore led by 35North Ventures, along with MergerDomo, where existing HNI investors Neema Rani from the US and Hyderabad-based Nirupa Reddy also participated.
The start-up will use this amount to expand personalised fashion fulfillment centres in eight cities throughout India, and its technology team and marketplace business models would also be bolstered with the funds.
Susmitha Lakkakula, Founder, CloudTailor, commented “We’ve received a tremendous response in the past year and it’s great to see our brand grow from strength to strength. Our collaboration with Tyke has been highly successful and our campaign got oversubscribed (380 per cent). We have a robust expansion strategy in the pipeline, and this fundraiser will play a prominent role in seeing our plans come to fruition.”
It is also worth mentioning here that just a few days back, CloudTailor had appointed Shailendra Shyamsukha as the head of brand and communication.
