Virgio, a Bengaluru-based fashion startup, has raised $37 million as part of its Series A funding round co-led by Prosus Ventures, Accel, and Alpha Wave Global.

As per the startup, the raised funds will be utilized for technology development and hiring.

Virgio | Disrupting Fashion Through Technology

Founded by Amar Nagaram, Virgio is a fashion-tech startup streamlining design, manufacturing and purchasing processes in “real-time,” offering Gen-Z and late millennials a platform to discover and purchase new trendy apparel.

It offers a wide range of selections in casual, party and ethnic wear while adding new selections each week, with customers receiving discounts and free shipping.

Speaking about the platform, Amar Nagaram, Founder of Virgio, said,

“At the core of Virgio is the tech foundation, which is always listening to evolving trends on social media platforms and predicting the demand for each trend. This is then fed into our agile and responsive supply chain to enable the trendiest, elegant and yet affordable line in near real-time. Thus, Virgio is pioneering the test and scale method, making runway fashion accessible and affordable for all consumers while eliminating excess inventory for manufacturers.”

It is building a fashion tech platform that will allow designers to access consumer preferences in real time. The Bengaluru-based fashion startup also envisions a tech-led network of factories that enable designers to build prototypes, get consumer feedback, and scale up production.

As per the startup, its full-stack approach allows it to reduce the 8 to 10-month lead time to just one month. Its app has around 100,000 downloads which saw an upsurge in the number of users on its platform during its Singles’ Day sale last month to about 1 million new users, while it claims to have over 20,000 daily active users (DAU).

Commenting on the development, Ashutosh Sharma, Head of India Investments, Prosus Ventures, said,

“There is an underserved market for branded apparel in India. For example, branded apparel constitutes only 25% of women’s fashion in the country. The fashion industry in India is thus at an inflection point.”

The startup is backed by a series of angel investors, including Mukesh Bansal (Myntra), Kunal Shah (Cred), actor Saif Ali Khan, Vidit Aatrey (Meesho), Sriharsha Majety (Swiggy), Binny Bansal (Xto10X), Sameer Nigam (PhonePe), Mekin Maheswari (ACT Grant), Reddy Ventures and Viko Ventures.

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