POPxo, a women-focused lifestyle and fashion content portal, has raised nearly $2 million (Rs 13 crore) in series A funding from IDG Ventures India and Kalaari Capital, said a report in The Economic Times.
The funding round also saw participation from 500 Startups, a US-based accelerator and investment fund.
The funds will be used by Delhi-based POPxo to expand its editorial operations in English and Hindi languages, establish new verticals and scale up video production and new features for its recently-released mobile applications, the report said.
Launched by King’s College London graduate Priyanka Gill and Namrata Bostrom in May 2014, POPxo targets South Asian women from around the world and claims to be a one-stop inspirational shop for all kinds of fashionable things.
Priyanka is an angel investor married to London-based trader Raj Gill. Namrata is an MBA from London Business School and has previously worked as a management consultant for several banks and retailers in London.
Luxeva Ltd-led POPxo, which targets females between the ages of 18 and 34, claims to have a readership base of about 30 lakh a month.
Since its launch, POPxo has aised about Rs 5 crore in funding. In November last year, POPxo raised about $500,000 from a group of investors including Google India chief Rajan Anandan and CaratLane’s Mithun Sancheti.