Company Name : Roposo
Funding Amount : $5 million
Investor(s) Bertelsmann India Investments
Funding Round : Series B
Roposo, a fashion social network has raised funds worth $5 million from Bertelsmann India Investments (BII), the strategic investment arm of the international media, services and education group.
With this, Bertelsmann has closed the second leg of Series B round.
Roposo, co-founder, Avinash Saxena said, “Bertelsmann has a proven experience in content, social and commerce. They’ve been early investors in several successful companies across the globe including emerging markets like India, China and Brazil. When we met their team, they had a unique perspective on how they could help Roposo scale. We liked their approach aand are certain that their expertise will help our social network unlock many more opportunities in the days ahead.”
Roposo has announced its plans to leverage the funds raised for strengthening its technology backbone, expanding its team, bolstering the product and enhancing the Roposo community.
By augmenting its tech infrastructure, Roposo will be able to add more innovative and engaging features to its social network. The fashion social network may also look at expanding its existing categories and offerings. Bertelsmann will offer guidance on how to scale Roposo to its next level of growth and expansion.
Based out of Gurgaon, Roposo was founded in July 2014 by three IIT Delhi alumni, Mayank Bhangadia, Avinash Saxena (ex-CTO of Zomato) and Kaushal Shubhank.
The company’s total funding amount stands at $21 million from investors including Bertelsmann India Tiger Global, India Quotient and Flipkart’s CEO Binny Bansal.