Cunning mum or dad EkAnek Networks luggage Rs 40 crore led by Alpha Wave Incubation, Expertise Information, ETtech
EkAnek Networks, the mum or dad firm of Foxy, a startup focussed on magnificence and grooming, has raised Rs 40 crore led by Alpha Wave Incubation. Current traders Sequoia Capital India, Lightspeed India, and Matrix Companions India additionally participated within the spherical.
The corporate had raised $10 million led by Sequoia and Lightspeed, together with Matrix in March final 12 months.
As a part of this funding, Cunning will develop its presence to Abu Dhabi. “UAE is an thrilling and advanced magnificence & grooming market and we’re privileged to associate with AWI to deliver FOXY to GCC/ MENA,” Kartik Sheth, founding father of EkAnek, mentioned.
The platform affords clients a personalised purchasing expertise whereas providing manufacturers a full-stack business-to-business backend together with curation, logistics, advertising instruments, and influencer networks.
“Cunning will provide mobile-first shoppers a differentiated strategy to provide, curation, and success of magnificence merchandise. As well as, EkAnek’s distinctive …full-stack providing will drive tighter model relationships with the platforms and shoppers,” Navroz Udwadia of AWI mentioned.
EkAnek claims to have over 120 manufacturers and over 6,000 magnificence and grooming influencers on its platform.
“We consider classes like magnificence want a enjoyable, interactive purchasing expertise which could be very completely different from what conventional e-commerce corporations are in a position to present,” Tarun Davda, Managing Director at Matrix India, mentioned.