In a seed funding round led by Sauce VC, lifestyle brand Uni Seoul has raised Rs 5 crore ($585K), with Panthera Peak Ventures, Arun Venkatachalam, Sangeet Agrawal, Navin Parwal, and Yogesh Kabra also participating.
The money raised will go towards increasing its offline presence in tier I cities like Chennai, Hyderabad, and Bengaluru. In addition, Uni Seoul intends to enhance its supply chain management, boost marketing initiatives, introduce new private labels, and modernize its direct-to-consumer platform.
Uni Seoul, which was founded by Gaurav Karmani and Mohit Khurana, offers goods in the areas of fashion accessories, personal care, home and living, and gifting. The business has four successful locations in Bangalore, Hyderabad, Pune, and Nashik.
More than 700 stock-keeping units (SKUs) are available from the brand in categories like fashion accessories, personal care, home & living, and gifting. Its products are sourced from more than 200 vendors in South Korea, India, China, and Vietnam, with about 40% of them being produced in India through contract manufacturers.
Two of Uni Seoul’s physical locations are in Nashik and Pune. In October 2023, the company also opened an online store, which, without any marketing efforts, has generated 27% of its total revenue.
In the upcoming year, the brand hopes to triple its growth, citing strong customer retention and an average rating of 4.8 across all channels.
