RapidBox, operated by Trusource Technology, on Thursday raised $4.5 million (Rs 36.8 crore) in a Series A round led by SIG Venture Capital, Tanglin Venture Partners, India Quotient, among others.
The direct-to-consumer (D2C) brand plans to deploy these funds to expand its product range, enhance customer experience and bolster brand building.
Mumbai-based alternative credit platform BlackSoil invested in the firm in April 2021, in a cumulative investment of Rs 12 crore, along with Up Money and Freightwalla.
The Bengaluru-based company, backed by BlackSoil Capital, was started in 2019 by former Flipkart executive Paliwal and ex-Dailyhunt executive Manoj Baranwal. The D2C brand operates in the footwear, sports, and casual fashion space.
RapidBox sells its merchandise on its app and on marketplace platforms including Flipkart and Myntra. The brand attributes its growth to its focus on improving the accessibility and affordability of quality fashion products including footwear.
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