Hyderabad-based fashion social network, VioletStreet.com has raised Rs 2 crore in angel round of funding led by Venkat Vallabhaneni, founder and CEO Accurum and Sudhakar Reddy, founder and CEO Abhibus.
Founded by Ankur Gupta and Nayan Kumar, VioletStreet lets the users to create their own fashion looks and also get quick feedback from friends through social network. It also gives a virtual ‘feel’ of the products. The platform allows its users to mix and match and create custom looks by putting together fashion products from various sites.
“We will use the funds to scale up the technology, grow its team and increase its reach in the Indian market,” Nayan Kumar.
Venkat Vallabhaneni, former Senior Vice-President of Bank of America, and Sudhakar Reddy will join the VioletStreet board after the investment.