Lingerie brand Clovia has raised Rs 14.31 crore from a grip of heavenly attendants, Ivy Cap Ventures and She Capital Trust. The new continues for the Noida-based organization has come following two years. It had brought Rs 75 crore up in January 2019.

Clovia has dispensed 11,377 Series B3 CCPS at an issue cost of Rs 12577.83 each offer, administrative filings show. Brilliant Birch has injected Rs 2.75 crore while existing speculator Ivy Cap contributed Rs 2 crore.

Madhukar Parekh has placed in Rs 2.25 crore and She Capital Trust got shares worth Rs 1.87 crore. Baaya International has contributed Rs 1.5 crore though others imbued Rs 2.44 crore.

Established in 2013 by spouse wife couple Pankaj Vermani and Neha Kant, Clovia was prior known as MoodsOfCloe that was rebranded in June 2015. It plans, fabricates and sells premium style underwear, innerwear, nightwear, and shapewear.

The organization sells through direct deals channels including their select image e-store, accomplice sites including Myntra, Jabong, Flipkart and Amazon among others. As of now, it professes to get around 60% of its income from level II and level III urban communities.

Clovia cases to sell around 5,00,000 bits of undergarments a month. Around 75% of its business comes from online channels. The organization has over twelve elite brand sources and in excess of 100 deals touchpoints including retail chains like Central and Brand Factory.

As per Fintrackr, Clovia has been esteemed almost Rs 320 crore in the new round.

Clovia contends with Kalaari Capital-sponsored Zivame and PrettySecrets, ShopImagine, among a few others. While the organization is yet to uncover financials for FY19 and FY20, Clovia had recorded a 34% spike in income to Rs 51.8 crore in FY18. It likewise figured out how to chop down misfortunes to Rs 8.6 crore in FY18 from Rs 10.2 crore in the past monetary year.