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January 04, 2015

Deal Alert: Fashion social network VioletStreet raises Rs.2-Cr

Fashion social network VioletStreet.com has raised Rs. 2 crore in an angel round led by Venkat Vallabhaneni with participation from Srinivasa Rao Paturi. The company will utilize the funds to scale the technology, grow its team and increase its reach in the Indian market. Following the round, Venkat Vallabhaneni, Former Senior Vice President of Bank of America and serial entrepreneur, and Sudhakar Reddy, Founder and CEO of Abhibus.com, will join the board of the company as directors. 

 The platform allows users to put together matching products to create fashion looks and have instant feedback from friends. The company had previously raised Rs. 10 lakh in a TiE Smashup event held in May 2014. 

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