Voonik Technologies, an India-based e-commerce company backed by corporates including e-commerce company Beenos and media firm Times Group, has received $6m in funding from Sequoia Capital and RB Investments, Livemint reported yesterday.
Boutique venture capital fund RB led the round with close to $4m in commitments while VC firm Sequoia provided approximately $2m, according to two people aware of the development. However, the round has not yet been officially confirmed by any of the parties.
Established in 2013, Voonik Technologies operates a fashion e-commerce platform called Voonik as well as a male-focused version named Mr Voonik and a marketplace for designer clothing, dubbed Vilara.
The cash will reportedly be used to scale up the Mr Voonik and Vilara offerings, both of which were launched during 2016.
Voonik Technologies received $20m in a June 2016 series B round that included Beenos and Times Internet, the internet services subsidiary of Times Group, as well as Seedfund, Beenext, Tancom Investments and Sequoia, which led the round.
The company had already raised $5m in series A funding from Sequoia and Seedfund in 2015, before securing $3m in venture debt in July 2016 from Innoven Capital, which is backed by Singapore government-owned investment firm Temasek.