Description
StyleNookis a company in the Fashion Tech domain that gives an online personalized shopping service for urban working women. The start-up blends data science and styling art to offer personalised recommendations to those leaving profiles on their site.
Overview about StyleNook:
StyleNook gives an online personalized shopping service for urban working women. The start-up blends data science and styling art to offer personalised recommendations to those leaving profiles on their site. StyleNook uses a cost competitive structure of in-house algorithms along with remote stylists to fulfil customer needs. The company sends 5 curated products to the customer out of which the customer can keep what they like and return the rest. The platform has 3000 users currently with a 55% repeat rate and an average one-time buying ticket size of INR 2000. StyleNook has made sales of approximately INR 75 Lakhs to date with a revenue margin of 40 – 50% on average. The Founders Kuntal Malia and Arti Gupta have immense experience in this domain as well as strong educational pedigrees.
Details of the round –
StyleNook is raising INR 3 Cr.at an INR 12 Cr. pre-money valuation.The total ask from Lead Angels is INR 50 Lakhs.
The company already has a commitment for INR 2.5 Cr. Details of the participating Investor is as follows:-
INR 2.5 Cris committed by Stanford Angels Network
The minimum commitment towards the company isINR 5 Lakhs. In case commitments exceed the ask amount, allotment will be on “First come, First serve” basis.
