The company Virgio has secured $37M in Series A funding, which has taken its overall value to over $160M in just 12 months.
Led by Prosus Ventures, Alpha Wave Global and Accel, the funding round will be utilised by the business for technology development and hiring. Founded by the former CEO of Myntra, Amar Nagaram, the idea behind Virgio was to create a global fashion brand out of India.
“Traditionally, the fashion industry has operated on depth and discount models,” said Amar Nagaram, CEO and Founder of Virgio. “At the core of Virgio is the tech foundation, which is always listening to evolving trends on social media platforms and predicting the demand for each trend. This is then fed into our agile and responsive supply chain to enable the trendiest, elegant and yet affordable line in near real-time.”
“Virgio can be the change bearer and with its background, it also understands Gen Z & millennial consumers to be able to provide a new, real-time way to shop for fashion,” said Subrata Mitra, Partner at Accel.
