From the Press Release:
ET NOW’s Super Angels, a special series on the ‘Starting Up’ show which provides a platform for start-ups to make pitches to Angel Investors, witnessed a Mumbai based start-up company – Fetise.com (Men’s Apparel e-commerce platform) raise capital up to Rs. 25 Crores from Seedfund, represented by Mahesh Murthy, one of the Super Angels on the show.
On what attracted Seedfund to invest in Fetise.com, Mahesh Murthy, Managing Partner of Seedfund says, “Very often we see e-commerce start-ups who want to sell everything to everybody. But here we found a team that focussed on one target audience: upscale men and they’ve executed well to build a wide and deep line of products for the audience, as well as significantly differentiate from other e-com players.”
On the experience of raising funds on the Super Angels platform, Chetan Bafna of Fetise.com says “The sheer pace of growth within e-commerce in India makes this an exciting business. Our fundraising process started 6 months ago on Super Angels, and we’re overjoyed that the fundraising has closed on the TV platform too.”
The next phase of Super Angels will be beginning in January 2012 with 10 start-ups making a bid to follow Fetise.com and raise funds successfully on the platform.
Super Angels is a part of Starting Up which plays out every Tuesday at 10.30 PM, Saturday at 9 PM and Sunday at 10 AM only on ET NOW.