Social commerce brand Stage3 has raised Rs 20 crores in a Pre-Series A round co-led by Inflection Point Ventures and LC Nueva Investment Partners LLP along with Let’s Venture, Stanford Angels along and existing investor Blume Ventures. Anges including Ananth Narayanan, Dinesh Aggarwal, and Sashwat Nakhrani also participated in the round.
The funds raised will be utilized in improving technology infrastructure, hiring talent and building data science capabilities.
Launched in 2015 by Sabena Puri and Sanchit Baweja, Stage3 is an influencer-driven social commerce marketplace for fashion and lifestyle where content, social interactions, and commerce converge,
The Delhi-based firm claims to have registered a year on year growth of 200%, with annual recurring revenue (ARR) of $3 million and gross margin of 70% and expects to achieve an ARR of $6-7 million by March 2022.