Clovia, a lingerie retailer, has raised $4 Million in a Pre-Series C funding round.

The funding round was led by a clutch of investors, including Golden Birch Investments and SheCapital Venture Fund.

As per the startup, it plans to utilise the funds for growth in all key business segments of the firm.

Clovia also plans on expanding into new categories, pushing the brand message, enhancing technology, and strengthening all verticals in the company.

With this deal, the startup also announced the appointment of Anisha Singh, founder of SheCapital Venture Fund, to its Board of Directors.

Started by Neha Kant, Pankaj Vermani in 2013, Clovia is a Noida-headquartered lingerie brand focusing on affordable premium solutions. The startup also claims to have attained a 50% growth in business this year compared to FY19.

Competing with the likes of Zivame, Shyaway, Prettysecrets, and Cilory, Clovia is present in more than 200 stores across 50 locations, which includes metros as well as tier 2 and tier 3 cities.

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