Asserting its trust in India’s start-up ecosystem, global online search giant Google has invested an undisclosed amount in omnichannel lifestyle platform Fynd.
This is Google’s second direct investment in India. It had earlier invested Rs 650 million in Bengaluru-based hyper-local concierge and delivery player Dunzo in December 2017.
“Fynd’s unique store-driven commerce approach, without inventory or warehouses, gives it a unique position in the marketplace,” said Seema Rao, Head of Corporate Development-India, Google.
Other investors who participated in this round are Kae Capital, IIFL, Singularity Ventures, GrowX, Tracxn Labs, Venture Catalyst, Patni family office and Hong Kong-based Axis Capital, among other angel investors.
“The Fynd team has consistently demonstrated their ability to listen to the market and build scalable products. We are super excited to have Google join the Fynd family and look forward to working closely to grow the company,” said Vidushi Kamani, Venture Partner, Kae Capital.
Fynd said, the latest round of funding will enable the platform to further enhance the way it engages with consumers and retailers in a better way.
Its co-founder Harsh Shah said, “Our vision is to revolutionise the online and offline shopping experience across all channels and customer touch-points. We expect that the capital raised will help us further bolster our growth trajectory.”
The Mumbai-based fashion portal had closed its Series A round with $3.4 million in June last year. The O2O (online to offline) platform directly sources products across various categories including clothing, footwear, jewellery and accessories, from the most prominent brands in the country (via their in-store inventory) and brings them online.