Cloud Tailor, a D2C platform that enables personalized women’s fashion announced that 35North Ventures along with MergerDomo has led the Pre Series A fund raise, pegged at USD 1.0 million to build the brand as the topmost option for convenient fashion for women globally, an official statement highlighted.
Two of Cloud Tailor’s existing HNI customers (Neema Rani from US and Nirupa Reddy from Hyderabad) also participated in the current funding round.
The raised funds will be allocated towards expansion of personalized fashion fulfillment centres across 8 cities in India (Hyderabad, Bengaluru, Delhi NCR, Kolkata, Pune, Chennai, Patna and Mumbai) and growth of its technology team and the marketplace business models for Cloud Tailor, a statement highlighted.
Cloud Tailor founded in December 2020 is the brainchild of Hyderabad based Wife and Husband duo of Susmitha and Rudra (BITS, Pilani & IIM Kolkata alumni) who, during the pandemic induced lockdown faced tailoring related woes but they used their engineering background to turn this woe into an opportunity.
The idea was to iron out the challenges and bring in convenience, efficiency and ease to the current need in the existing ladies customized offline tailoring model that was further accelerated during lockdown. This led to the curation of the world’s first homegrown online app based tailoring solution called ‘Cloud Tailor’ based on a ‘low operational cost – high quality personalized fashion’ business model.
In a span of one year, the company added more strength by bringing on board industry veterans who contributed to the brand strategy and growth immensely and paved the path for pan-India expansion and stronger penetration, both online and offline.
Susmitha Lakkakula, Founder, Cloud Tailor commented on this funding “We are excited to announce 35North Ventures and MergerDomo’s investment in Cloud Tailor. Cloud Tailor was instantly associated with India Discovery Fund -I, an Angel fund of 35North Ventures,a registered VC on MergerDomo’s algorithm-based investment banking platform, as its industry stage, size and investment requirement matched the thesis of India Discovery Fund-I. We are looking forward to building a long-term partnership with them. We’re glad to have found the perfect partners who support our vision of creating and optimising consumer experience in personalised fashion like never before, disrupting the D2C fashion space through technology and cultivating consumer relationships across the globe with those seeking quality. We are also grateful to our long-time customers Neema and Nirupa for believing in our growth story”, said .
Ashwani Singh from 35North Ventures commented on the investment, and said “We are very happy to partner with Cloud Tailor in its growth journey towards becoming the D2C brand to reckon with in the personalised fashion sector. The dynamic founders created this unique concept at a time where businesses were scrambling to stay afloat. They have had a great start performance wise and they are now on an upward swing where they have brilliantly managed to understand a simple yet complicated consumer concern and have the most viable solution ready. We look forward to a great journey ahead and we wish the team at Cloud Tailor great success in the years to come.”
Cloud Tailor will be operationalised across 20 cities in the coming two quarters. They will grow their customer base to more than 15 countries across the world, for their D2C personalized fashion orders.
Associate VP- Marketing, MergerDomo Services Private Limited