Voonik raises its fashion quotient with $20 million in Series-B funding

Fashion startup Voonik raised $20 million in its latest round of funding. The Series-B round of funding was led by Sequoia Capital and included others such as Times Internet, Seedfund, Beenos, Beenext Parkwood Bespin, Tancom Investments and Kunal Shah

The startup launched in August 2014 has been growing at great pace in the unbranded fashion category with 10 million registered users, 8 million app downloads, 100 million annual GMV and 13 million annual revenue rate, according to a Nextbigwhat.com report.

The company has now launched two other fashion platform, ie one is an exclusive app for men's fashion called Mr Voonik and the other a market place for designers and boutiques called Vilara.

Voonik has raised a total of $27 million in funding, which includes $500,000 in seed, $6.5 million in series A and the latest $20 million in series B funding.

The latest round of funding will be able to enhance customer experience, strengthen the personalisation engine and to scale up Mr Voonok and Vilara platforms, said the report.