Gurgaon-based startup Fashion-focused social network, Roposo.Com has raised USD 5 million (about Rs 33.2 crore) funding from Bertelsmann India Investments (BII). With this, Roposo has closed the series B funding, raising a total of USD 15 million in this round.
In August last year, Tiger Global had committed USD 15 million funding. However, Roposo and Tiger later collectively decided to bring in an external investor to raise USD 5 million.
“Bertelsmann has a proven experience in content, social and commerce. They’ve been early investors in several successful companies across the globe including emerging markets like India, China and Brazil,” Roposo co-founder Avinash Saxena said in a statement.
Roposo is certain that their expertise will help the company unlock many more opportunities in the days ahead, he added.
Founded in July 2014 by three IIT-Delhi alumni, Mayank Bhangadia, Avinash Saxena (ex-CTO of Zomato) and Kaushal Shubhank, Roposo will leverage the funds for strengthening its technology backbone, expanding its team, bolstering the product and enhancing its community.
By augmenting its tech infrastructure, Roposo will be able to add more innovative and engaging features as well as expand existing categories and offerings.
Bertelsmann will offer guidance on how to scale Roposo to its next level of growth and expansion, the statement said.