Slikk Fashion Delivery Platform Secures $10 Million Funding

Slikk, a fashion delivery service offering 60-minute delivery, is preparing to secure a new funding round after its recent seed investment, as informed sources shared with Startup Superb. Nexus is leading a funding round of $10 million, based on a valuation of $40 million. This deal has been finalised, with existing investors expected to contribute.

On Tuesday, Slikk disclosed a $3.2 million seed round led by Lightspeed, with involvement from Multiply Ventures and various angel investors, including names like Abhishek Goyal from Tracxn, Abhinav Pathak from Perpule, Madhav Tandan, Nikhil from Panthera, and Saurabh Gupta from DST Global.

Target Audience and Expansion Plans

Slikk aims to appeal to a demographic of young, impulse-driven shoppers, focusing on students, professionals, and trendy city dwellers who are heavily influenced by social media trends. The platform’s vision includes expanding into tier I and tier II cities over the next five years, maintaining its commitment to 60-minute fashion delivery while branching out into over seven lifestyle categories.

Brand Partnerships

The startup showcases a diverse array of more than 80 brands, such as Snitch, The Souled Store, Freakins, Uptownie, Off Duty, Bonkers, and Bewakoof.

Market Trends and Investment Interest

The concept of quick commerce is gaining traction, with investors demonstrating heightened interest in the fashion sector. As noted by another source, Myntra has recently launched a 30-minute delivery service for fashion and beauty products, prompting more startups to follow suit and pursue additional funding.

Slikk opted not to provide comments on this matter, and inquiries directed to Nexus did not receive an immediate reply.

Nexus Venture Partners Overview

Nexus Venture Partners, the backer of companies like Delhivery, Unacademy, Zepto, Rapido, Postman, Druva, and Hasura, completed its largest fund at $700 million in early 2023. This year, it has also invested in Snabbit, Singulr AI, and CapGrid, among others.