UAE’s Alpha Wave invests in Delhi-based EkAnek Networks

UAE’s Alpha Wave invests in Delhi-based EkAnek Networks

EkAnek Networks, a new age e-commerce startup on September 14 said it has raised $5.4 million in a funding spherical led by using Alpha Wave Incubation, a $300 million fund managed with the aid of Falcon Edge Capital.

Its current investors- project money Sequoia India, Lightspeed India and Matrix Partners India additionally participated in the round.

EkAnek runs a splendor and grooming platform Foxy, which affords clients a personalized buying trip that accommodates selfie-analysis and focused curation. Foxy will additionally provide local, regional and worldwide manufacturers a platform to construct relationships between brands, influencers and shoppers.

This allows promoting to customers directly, inclusive of curation, logistics, advertising and marketing tools, influencer networks and video commerce. EkAnek presently has over one hundred twenty manufacturers and over 6,000 splendor and grooming influencers on the platform.

EkAnek will additionally use the cash to make bigger to Abu Dhabi (where new investor Alpha Wave is additionally based), which will serve as its base for enlargement in the Middle East.

It additionally plans to rent statistics scientists, product managers and engineers in Abu Dhabi.

Kartik Sheth, founder of EkAnek stated in a statement: “We are very excited to announce this fundraise; the belief reposed via marquee traders in EkAnek is a brilliant validation of the notion and the group in the back of this venture. UAE is an thrilling and developed splendor & grooming market.”

Navroz Udwadia, managing director of Falcon Edge Capital, said: “We are delighted to associate with EkAnek.

Foxy will provide mobile-first customers a differentiated strategy to supply, curation and fulfilment of splendor products.

In addition, EkAnek’s special B2B2C full-stack supplying will pressure tighter manufacturer relationships with the structures and consumers, to provide buyers globally an unrivalled ride of splendor products.”

EkAnek raised $10 million in a seed funding spherical led via Sequoia, Matrix and Lightspeed in March ultimate year.

Recent Articles

Vanta Goes From Low-Profile Startup To $500 Million Valuation With $50 Million Sequoia Series A

Christina Cacioppo says she enjoyed the looks on investors’ faces when she opened the books on her software startup, Vanta.

Edtech startup Teachmint raises over $16 Mn in Series A round led by Learn Capital

Edtech startup Teachmint has raised Rs 122.8 crore or $16.5 million in its Series A round from new and existing investors. This...

Riot Games and Konvoy Ventures back games publisher Carry1st in $6M Series A

Africa is the last frontier for basically anything. Mobile gaming is no exception. For a continent that is home to more than 1 billion...

Paytm to set up Oxygen Plants for long-term sustainable supply across India

Raised Rs 10 crore worth donations, matches the contribution taking the total to Rs 20 crore- Aims to set oxygen plants in...

Fintech Startup, Nivesh Bags Rs. 12 Crore Funding From IAN Fund

Fintech startup Nivesh announced that it has raised $1.6 million in a pre-Series A round from IAN Fund. Other co-investors, including angel...

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Stay on op - Ge the daily news in your inbox