Exclusive: Former Matrix VP’s fast fashion platform set to raise $8 Mn

Former Matrix Partners India’s Vice President Ankush Goyal incorporated a new entity DSLR Technologies in December to launch a fashion platform with layers of social commerce, according to the company’s regulatory filings.

Before starting up, Goyal led investments in the e-commerce space for Matrix Partners – including DealShare which is a Tiger Global and WestBridge Capital funded grocery company in the social commerce space.

“Goyal is building a content plus commerce platform for a mass premium audience. Apart from fashion, it would also cater to categories such as home decor and accessories,” said the second source who also wished not to be named.

With this move, Goyal will join the likes of Myntra’s former chief executive Amar Nagaram who is all set to float a customized platform for fast fashion. Nagaram is also finalizing a $25-30 million worth seed round at a valuation of about $100 million.

Customer to manufacturers (C2M) platforms such as Cider, Italic and several others have gained ground in the US whereas Shien has managed to establish itself in the MENA and other global regions. “On similar lines, DSLR will focus on women and weed out middlemen by connecting consumers directly with manufacturers across categories”, said two of Entrackr’s sources aware of the company’s roadmap

Queries sent to Goyal, Matrix and Accel didn’t elicit any immediate response. We will update the story as and when they respond.

Unlike the 2010-14 period when several startups including Zovi, YepMe, Voonik and Freecultr flooded the online fashion market, the fast forward fashion space in India hasn’t seen any notable startups in the past six to seven years. This may change with DSLR and Nagaram’s new venture.