India-based e-commerce company Voonik Technologies has raised $20m in a series B round that included Times Internet, the internet services division of media firm Times Group, DealStreetAsia reported today.
Venture capital firm Sequoia Capital led the round, which also featured e-commerce and logistics services company Beenos, Seedfund, Beenext and Tancom Investments.
Voonik Technologies’ flagship brand is fashion e-commerce platform Voonik, but it has also launched a male-focused platform called Mr Voonik and a designer clothing marketplace dubbed Vilara.
The company claims to have accumulated 12 million registered users since it launched Voonik in August 2014. The series B capital will support technology development and the marketing of its new offshoots as well as possible strategic acquisitions.
Voonik graduated from Microsoft Accelerator in 2014 before raising $5m from Sequoia Capital and Seedfund, which participated as an existing investor, in June 2015.