ETtechBengaluru-based 60-minute fashion delivery startup Slikk has raised $10 million (about Rs 85 crore) in a funding round led by early-stage venture capital firm Nexus Venture Partners.
The round also saw participation from existing investor Lightspeed.
The funds will be used to launch new lifestyle categories, roll out instant returns and expand into more pin codes.
“It's primarily for leadership hiring within the company now, as we are moving into a growth and maturity stage,” cofounder and chief executive Akshay Gulati told ET.
Founded in 2024 by Gulati, Om Prakash Swami and Bipin Singh, the vertical quick commerce startup focuses on fashion and lifestyle, offering one-hour deliveries across Bengaluru.
The company has more than 150 brands listed on the platform, including Snitch, The Souled Store, Freakins, Uptownie, Off Duty, Bonkers and Bewakoof. It aims to have more than 500 brands on the platform by December.
Gulati said the company is set to expand to a new city soon, without disclosing further details. Earlier ET had reported that the company would expand its presence to Mumbai and Delhi-National Capital Region.
The platform aims to have six to eight dark stores by September, up from two in March.
Slikk also plans to diversify into categories such as beauty and personal care, footwear, accessories and wearables.
“We started with western wear, then expanded into ethnic wear, and began piloting accessories, wearables and footwear. Existing apparel customers are buying across categories, and new ones are coming in for these too. Since it’s working well, we plan to double down on these categories,” Gulati said, adding that these categories will be live on the platform within two months.
The company last raised $3.2 million in March in a funding round led by Lightspeed.
Commenting on the investment, Pratik Poddar, partner at Nexus Venture Partners, said, “Having watched quick commerce reshape India's consumer behaviour, we firmly believe fashion is the definitive next frontier for digital disruption.
“We backed Slikk at the seed stage because their take on fashion commerce was refreshingly ahead of its time. We are happy to double down on our investment and support Akshay and the team’s focus on newer categories and reaching a wider audience across India." said Rahul Taneja, partner, Lightspeed.
The round also saw participation from existing investor Lightspeed.
The funds will be used to launch new lifestyle categories, roll out instant returns and expand into more pin codes.
“It's primarily for leadership hiring within the company now, as we are moving into a growth and maturity stage,” cofounder and chief executive Akshay Gulati told ET.
Founded in 2024 by Gulati, Om Prakash Swami and Bipin Singh, the vertical quick commerce startup focuses on fashion and lifestyle, offering one-hour deliveries across Bengaluru.
The company has more than 150 brands listed on the platform, including Snitch, The Souled Store, Freakins, Uptownie, Off Duty, Bonkers and Bewakoof. It aims to have more than 500 brands on the platform by December.
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Gulati said the company is set to expand to a new city soon, without disclosing further details. Earlier ET had reported that the company would expand its presence to Mumbai and Delhi-National Capital Region.
The platform aims to have six to eight dark stores by September, up from two in March.
Slikk also plans to diversify into categories such as beauty and personal care, footwear, accessories and wearables.
“We started with western wear, then expanded into ethnic wear, and began piloting accessories, wearables and footwear. Existing apparel customers are buying across categories, and new ones are coming in for these too. Since it’s working well, we plan to double down on these categories,” Gulati said, adding that these categories will be live on the platform within two months.
The company last raised $3.2 million in March in a funding round led by Lightspeed.
Commenting on the investment, Pratik Poddar, partner at Nexus Venture Partners, said, “Having watched quick commerce reshape India's consumer behaviour, we firmly believe fashion is the definitive next frontier for digital disruption.
“We backed Slikk at the seed stage because their take on fashion commerce was refreshingly ahead of its time. We are happy to double down on our investment and support Akshay and the team’s focus on newer categories and reaching a wider audience across India." said Rahul Taneja, partner, Lightspeed.
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