Fashion quick-commerce startup ZILO has raised $15.3 million (about Rs 140 crore) in a Series A funding round led by Peak XV Partners as the company looks to expand to new markets. Peak XV Partners invested $8 million in the round, while existing investors InfoEdge Ventures and Chiratae Ventures each added $2.5 million. The round also saw participation from Alteria Capital, Stride Ventures, and several angel investors, including Lalit Keshre, Kunal Shah, Sachin Oswal, Ayyappan R, Abhishek Bansal, Sreevathsa Prabhakar, and Preeta Sukhtankar.The funding will support expansion beyond Mumbai over the next year, the company said in a statement. ZILO also plans to invest in technology and customer experience capabilities.Founded by former Flipkart and Myntra executives Padmakumar Pal and Bhavik Jhaveri, Mumbai-based ZILO promises delivery within 60 minutes, besides features such as home trials and instant returns. The company works with more than 200 fashion brands and is building a vertically integrated operating model focused on speed and assortment.Also ReadThe Whole Truth eyes public markets with new $51M Series D fundingThe fundraise follows ZILO’s partnership with celebrity stylist and fashion editor Anaita Shroff Adajania, who joined the company as style director and equity partner. The company said the collaboration is… Read MoreYourStory RSS Feed
