India: Fashion rental platform Stage3.co gets angel funding, dilutes 16% stake

Visual from Stage3.co website

Delhi-based Stage3.co, an omni-channel fashion styling and rental platform, has raised an undisclosed amount in angel funding from a group of angel investors by diluting equity, according to a report in INC42.

Investors who participated in the round include Nisha Kumar, ex-CFO of Rent the Runway and AOL Inc, Puneet Dalmia of Dalmia Bharat Group, and Balaji Prabhakar, professor of computer science at Stanford University and chief scientist at Urban Engines.

Stage3.co, run by Technolour Dream Pants Pvt Ltd, has also given up 16 per cent equity against the fresh investment, the report said. The startup will use the funds to expand its operations and strengthen its back end technology.

Founded by Sabena Puri, Rina Dhaka and Sanchit Baweja, the portal is a next generation fashion technology rental and styling startup. It is currently in the process of creating an ecosystem of designers, stylists, logistics partners and customer support professionals that are leveraging technology to deliver personalized fashion experiences that can be rented.

The members of the startup’s advisory board include Anaita Shroff Adjania, fashion director of Vogue and stylist to Deepika Padukone, Gautam Kalra, official stylist to Lakme Fashion Week, Arjun Sawhney, co-owner of The Communications Council, and Pearl Uppal, ex-cofounder and CEO of Fashion and You.

Also Read: Online rental economy takes off in India

RentoMojo raises $2m from IDG Ventures, Accel Partners

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.