In a seed fundraising round headed by Sauce VC, lifestyle company 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 would 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.
The company sells more than 700 stock-keeping units (SKUs) in areas such fashion accessories, personal care, home and lifestyle, and gifts. About 40 percent of its products are produced by contract manufacturers in India, with the remaining 20 percent coming from more than 200 suppliers in China, Vietnam, India, and South Korea.
In Pune and Nashik, Uni Seoul runs two physical stores. Without any marketing efforts, the company's online store, which it established in October 2023, has generated 27 percent of its income.
With an average rating of 4.8 across all channels and good customer retention, the company says it plans to triple its growth in the upcoming year.
