Hyderabad Based VioletStreet Secures INR 2 Crores In Angel Funding

Hyderabad based online fashion social network, VioletStreet has raised INR 2 Crore in
an angel round led by Bank of America SVP, Venkat Vallabhaneni and Srinivas Rao Paturi. Post funding, Venkat Vallabhaneni and Sudhakar Reddy (Abhibus.com Founder CEO) will join the board of the company.
Founded by Ankur Gupta and Nayan Kumar, VioletStreet is essentially a fashion community that enables users to discover fashion by engaging with friends and an entire fashion community before buying. VioletStreet also allows its users to mix and match and create custom looks by putting together fashion products from various sites. More than 3000 looks are created by users on the site every month.
The company will utilize the funds to scale the technology, grow its team and increase its reach
in the Indian market. The company had previously raised Rs. 10 Lakh in a TiE Smashup event held in May, 2014.

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