Fashion tech start-up Virgio raises US $ 37 million | Retail Tech … – Apparel Resources
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Virgio – a Bengaluru-based fashion tech start-up that’s founded in 2022 – has raised US $ 37 million in a funding round led by Prosus Ventures, Accel and Alpha Wave.
The start-up said that the capital raised in Series A funding round will be utilised towards further technology development and hiring.
The company, focused on Gen Z and late millennials, uses technology throughout the design, manufacturing and purchasing process in an effort to streamline the entire fashion lifecycle.
“Traditionally, the fashion industry has operated on depth and discount models. Virgio is pioneering the test and scale method, making runway fashion accessible and affordable for all consumers, while eliminating excess inventory for manufacturers,” said Amar Nagaram, CEO and Founder, Virgio – who was former CEO of Myntra.
Looking ahead, Virgio seeks to bring in sustainable practices to address the challenge of fashion waste.
Virgo’s previous angel investors include Mukesh Bansal, Kunal Shah, Binny Bansal, Bhavesh Agarwal, Vidit Aatrey, Saif Ali Khan, Sriharsha Majety, Mekin Maheswari, Sameer Nigam, Reddy Ventures, and Viko Ventures.
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