Slikk Club: Revolutionising Fashion Delivery in 60 Minutes
Slikk Club, a prominent 60-minute fashion delivery service, has successfully secured $3.2 million during its seed round, spearheaded by Lightspeed. Participating in this funding were Multiply Ventures, existing investors, and several high-profile angel investors like Abhishek Goyal from Tracxn, Abhinav Pathak of Perpule, along with Madhav Tandan, Nikhil from Panthera, and Saurabh Gupta from DST Global.
Utilisation of Funds to Enhance Operations
The raised funds will facilitate the scale-up of operations in Bengaluru and reinforce the leadership team focusing on technology, category management, operations, and the supply chain.
About Slikk Club’s Founders and Target Market
Founded by Akshay Gulati (CEO), Om Prakash Swami (CTO), and Bipin Singh (CPO), Slikk Club is designed for a demographic comprising young, impulsive shoppers, particularly targeting college students, young professionals, and urban trendsetters who are significantly influenced by trends on social media.
Expansion Plans and Diversification
Slikk Club intends to broaden its reach across tier I and tier II cities within the next five years, making its 60-minute fashion delivery services available to a larger audience. Furthermore, the company aims to branch out into more than seven lifestyle categories, employing cutting-edge technology to simplify shopping, order fulfilment, and returns.
Brand Portfolio
The brand boasts a diverse portfolio of over 80 brands, including Snitch, The Souled Store, Freakins, Uptownie, Off Duty, Bonkers, and Bewakoof.
Investments in Regional Startups
In July 2022, Lightspeed announced the closure of a $500 million fund dedicated to investments in India and Southeast Asia. Since then, it has provided support to startups like Sarvam AI, Seekho, Zluri, Gushwork.ai, XFlow BlueLearn, GlobalFair, and Exponent Energy, among others. The global investment firm B Capital, known for its backing of companies such as Byju’s, Meesho, and Pharmeasy in India, successfully concluded its second Opportunities fund at $750 million in March of the previous year.