Total amount raised
$22.7 Million
Latest funding date
12/01/2020
Location
Clovia has successfully raised funding over five rounds, with the latest being a Series C round. The company is backed by seven investors, including Golden Birch Investments and She Capital.
Keep reading to explore the intricacies of Clovia's fundraising journey and the investors backing this innovative lingerie brand.
What Is Clovia?
Clovia, founded in 2013, is a prominent Indian brand specializing in women's lingerie, sleepwear, activewear, and personal care products. The company operates out of Noida, Uttar Pradesh, India, and employs between 251-500 people.
Clovia offers a wide range of products, including bras, panties, nightwear, shapewear, and activewear, with over 1000 styles available in 50+ sizes. The brand has also expanded into men's innerwear and kids' nightwear, and launched Skivia, a personal care line. Clovia was acquired by Reliance Retail and continues to focus on providing high-quality, affordable innerwear tailored to the diverse body types of Indian women.
How Much Funding Has Clovia Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2013
- Lead Investors: Mountain Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop initial product offerings.
- Series A
- Amount Raised: USD 4,000,000
- Date: June 2015
- Lead Investors: IvyCap Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product lines and scale operations.
- Series B
- Amount Raised: USD 4,000,000
- Date: April 2017
- Lead Investors: Ravi Dhariwal, Singularity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand market reach.
- Series C
- Amount Raised: USD 10,000,000
- Date: January 2019
- Lead Investors: AT Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business growth and market expansion.
- Series C
- Amount Raised: USD 4,000,000
- Date: December 2020
- Lead Investors: Golden Birch Investments, She Capital
- Valuation at Round: USD 43,000,000
- Motivation Behind the Round: To boost product offerings, expand sales channels, and explore international growth opportunities.
Total Amount Raised: USD 22,000,000. Current Valuation: USD 43,000,000.
Key Investors
- Golden Birch Investments
- Details: Golden Birch Investments is a private investment firm that participated in Clovia's Series C funding rounds. The firm is known for its strategic investments in high-growth companies.
- Investment Focus Areas: Technology, Consumer Goods, Healthcare
- Notable Investments: Not publicly disclosed
- She Capital
- Details: She Capital is a venture fund founded by Anisha Singh, who has joined Clovia’s Board of Directors. The fund focuses on women-centric businesses and startups solving real problems in the ecosystem.
- Investment Focus Areas: Women-centric businesses, Technology, Consumer Goods
- Notable Investments: Clovia
- AT Capital
- Details: AT Capital is a Singapore-based investment firm that participated in Clovia's Series C funding round in January 2019. The firm invests in a variety of sectors with a focus on long-term growth.
- Investment Focus Areas: Real Estate, Financial Services, Consumer Goods
- Notable Investments: Clovia
- IvyCap Ventures
- Details: IvyCap Ventures is an early-stage venture capital firm that has been an early investor in Clovia. The firm focuses on nurturing innovative startups in India.
- Investment Focus Areas: Technology, Healthcare, Education
- Notable Investments: Clovia
- Mountain Partners
- Details: Mountain Partners is a Zurich-based investment firm that participated in Clovia's seed funding round. The firm specializes in building and investing in technology-driven businesses.
- Investment Focus Areas: Technology, E-Commerce, Fintech
- Notable Investments: Clovia
What's Next for Clovia?
Clovia stands at the cusp of significant growth opportunities. With plans to double its customer base and expand internationally, the company is poised to leverage its proprietary data analytics and strong online presence. The recent funding will enable Clovia to enhance its product offerings and explore new categories, ensuring it remains competitive in a rapidly evolving market.
Future fundraising efforts are likely as Clovia seeks to support its ambitious expansion plans. The company’s focus on technology and innovation will attract investors looking for high-growth potential. However, Clovia must navigate challenges such as intense competition and maintaining profitability while scaling operations. The company’s ability to adapt to market trends and consumer preferences will be crucial in sustaining its growth trajectory.
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