Fashion Discovery Site Roposo Nabs $15M From Tiger Global – TechCrunch
Roposo, a discovery platform for fashion products, has scooped up $15 million in fresh funding from returning investor Tiger Global. Based in Gurgaon, Roposo lets users save items from different websites and also allows brands to create official accounts. The startup disclosed its $5 million Series A just five months ago.
Roposo has raised $21 million in total so far and its other backers include Binny Bansal, the co-founder and chief operating officer of Flipkart, one of India’s largest e-commerce sites.
Created by a founding team that includes the former chief technology officer of restaurant directory Zomato, Roposo’s future is tied into the rapid rise of India’s e-commerce market, which is set to become the fastest-growing in the world. Roposo currently claims more than one million users, with 200 web stores, and 4,000 brands on the platform.
Social commerce sites like Roposo, LimeRoad (another Tiger Global portfolio company), Wooplr, and Voonik complement large e-commerce marketplaces like Flipkart, Snapdeal, and Amazon India by helping shoppers find products they are likely to buy instead of sifting through thousands of listings. They also help smaller e-commerce sites build brand recognition.
The success of these sites hinges on whether the results produced by their recommendation engines are accurate enough to keep users engaged. Roposo’s recommendation engine was originally used for Giveter, which products gift ideas, and the company wants to become the “default fashion search engine” for shoppers in India.