The 60-minute fashion delivery service Slikk Club has raised $3.2 million in its seed round, which is being led by Lightspeed. Participating were Multiply Ventures, current investors, and prominent angel investors, such as Saurabh Gupta (DST Global), Madhav Tandan, Nikhil (Panthera), Abhinav Pathak (Perpule), and Abhishek Goyal (Tracxn).
The money raised will be utilized to expand operations in Bengaluru and bolster its supply chain, operations, category management, and technology leadership teams.
Slikk Club was founded by CEO Akshay Gulati, CTO Om Prakash Swami, and CPO Bipin Singh. It serves a demographic of young, impulsive consumers, such as college students, young professionals, and urban trendsetters who are greatly influenced by social media trends.
In order to reach a larger audience, Slikk Club intends to spread throughout tier I and tier II cities over the course of the next five years. It also intends to use cutting-edge technology for simple shopping, fulfillment, and returns while expanding into more than seven lifestyle categories.
Among the more than 80 brands in its portfolio are Snitch, The Souled Store, Freakins, Uptownie, Off Duty, Bonkers, and Bewakoof.
Lightspeed raised $500 million for its newest India and Southeast Asia fund in July 2022. Since then, it has supported a number of companies, including Exponent Energy, Seekho, Zluri, XFlow BlueLearn, GlobalFair, Gushwork.ai, and Sarvam AI. Last March, the international investment firm B Capital, which has supported companies in India like Byju’s, Meesho, and Pharmeasy, closed its second Opportunities fund at $750 million.
