Lingerie startup InnerSense has raised Rs 2.5 crore from Venture Catalysts in Pre- Series A round. Other Investors who participated in the round include Dharmesh Dalal, Vijay Lakhani and Matulya Shah. The fresh capital will be used to scale up its operations and innovations.
Founded in 2014 by Abhishek Lodha and Neerja Lakhani, InnerSense offers women innerwear with affordable prices, body-sensitive, hygienic and perfectly-fitted lingerie. Its product offering includes bras, panties, and nightwears.
The platform offers innerwear via 18 e-commerce platforms in India and four online platforms outside the country.
The investors also believe that there is a huge market opportunity for platform like InnerSense in the growing innerwear market of the country.
India’s lingerie market is estimated to be worth $3 billion. From the past few years, a number of startups in the lingerie e-commerce segment have raised funding.
In January, Buttercups raised an undisclosed amount from Google India managing director Rajan Anandan through Lets-Venture.
Besides selling innerwear, the Bengaluru-based platform has introduced the concept of fitting rooms with lingerie experts for assistance, creating a product line to try out the products.
Another company Zivame raised Rs 250 crore from Zodius Technology Fund and Khazanah Nasional Bhd in a Series C round in September 2015. Previously, it raised $9 million from IDG Ventures, Kalaari Capital and Unilazer Ventures in two rounds of funding.
Currently, Zivame products are available in over 250 outlets and 20 exclusive Zivame studios in most of the cities in India.
Another player Mumbai-based PrettySecrets are also active and well-funded in this segment. The startup has raised $8 million till date. It claims to have 19 stores and are plans to have 300 stores by 2019.