Key Highlights
- Slikk raises $10 million in Series A funding to expand its 60-minute fashion delivery service.
- Slikk partners with over 80 brands, including Snitch, Freakins, and Bewakoof, to offer trendy fashion.
- Lightspeed Ventures doubles down on investment in Slikk for its innovative fashion commerce model.
Nexus Venture Partners is leading a $10 million Series A investment for Slikk, a 60-minute fashion delivery service. Lightspeed, an existing backer, took part in the round as well.
The Series A round was done in March of this year. In the same month, Slikk also revealed a $3.2 million seed round led by Lightspeed, in which Multiply Ventures and other angel investors participated.
The money raised will be utilized to increase its presence in more metropolitan pin codes, launch rapid return options, and venture into new lifestyle categories.
Currently, Slikk, which was founded by Akshay Gulati, Om Prakash Swami, and Bipin Singh, delivers stylish items throughout Bengaluru in under an hour. It offers quick delivery and refunds under the Try & Buy business strategy. The website caters to urban consumers who are impacted by social trends, young professionals, and college students.
Snitch, The Souled Store, Freakins, Uptownie, Off Duty, Bonkers, and Bewakoof are among the more than 80 brands that are part of the brand.
Slikk intends to diversify into wearables, accessories, footwear, cosmetics, and personal care. In an effort to improve consumer pleasure and streamline the purchasing process, the business is also getting ready to introduce fast refunds.
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"We backed Slikk at the seed stage because their take on fashion commerce was refreshingly ahead of its time. The team built a product that truly resonates with its customers, reflected in strong retention and engagement. We are happy to double down on our investment and support Akshay and the team's focus on newer categories and reaching a wider audience across India." added Rahul Taneja, Partner, Lightspeed.
