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Online Fashion Retailer Yepme Raises Funding From Gokaldas Exports

Ltd, in May 2017. This year, saw the startup was in the throes of unsavoury limelight when reports of massive layoffs surfaced in February 2017 . It was reported that the company had shut down two of its units – warehousing and quality control and had fired close to 30 employees. As per the RoC documents, Yepme posted net sales worth $16 Mn (INR 104.1 Cr) and losses worth $28 Mn (INR 183.8 Cr), for the FY 2015-16. This solidifies the fact that the company has been facing mounting losses, with an added increase in expenditure. Queries sent to Yepme remained unanswered at the time of publication. Last year in September, online fashion brand StalkBuyLove raised an undisclosed amount of funding from William Bissell, Managing Director of ethnic retailer Fabindia. In the same month, fashion discovery app Findow received an undisclosed amount of funding from Raj Singh Bhandal, Director, Next Media Works. In October 2016, online fashion store FabAlley secured $2 Mn (INR 13 Cr)in its Series A round of funding from India Quotient and Indian Angel Network . This year in February, Bengaluru-based fashion discovery app Wooplr raised $8 Mn in Series B round of funding from Sistema Asia fund, a proprietary fund floated by Sistema JSFC .

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