Bengaluru-based 60-minute fashion delivery start-up Slikk has raised $10 million in an all-equity Series A funding round. In this fundraise, investors including, Nexus Venture Partners, Lightspeed, and others participated. This fresh capital will fuel the start-up’s next phase of growth like new categories launch, instant return facility, and expansion into more urban cities.
“Since inception, Slikk has delivered a high-quality customer experience through our 60-minute delivery model. Brands have been able to unlock new users at a hyperlocal level. With this new round, we intend to double down on that promise and offer a significantly wider range of products and experiences to our customers,” said Slikk CEO and cofounder Akshay Gulati.
As it scales, Slikk will diversify into categories such as beauty and personal care (BPC), footwear, accessories and wearables, while extending its presence across key metros.
Speaking about the funding round, Pratik Poddar, Partner at Nexus Venture Partners believes that fashion is the definitive next frontier for digital disruption. “The Slikk team’s deep category insights and strategic execution are precisely what this moment demands”.
“We backed Slikk at the seed stage because their take on fashion commerce was refreshingly ahead of its time. The team built a product that truly resonates with its customers, reflected in strong retention and engagement. 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." Rahul Taneja, Partner at Lightspeed, added.
Slikk was founded by Akshay Gulati (CEO), Om Prakash Swami (CTO), and Bipin Singh (CPO), who bring extensive experience in building and scaling commerce platforms. The start-up delivers clothing and accessories within 60 minutes across Bengaluru, eliminating long wait times and making shopping seamless.
Currently, Slikk is serving college students, young professionals, and urban shoppers who are highly influenced by social trends. India’s apparel market is expected to reach $109.45 billion this year, and the beauty and personal care segment may exceed $34 billion during the same time period.
