Fashion startup Virgio raised $37 million in its Series A led by Prosus Ventures, Accel and Alpha Wave. The startup is reportedly valued at $161 million.
Virgio employs a test-and-scale method that bridges the gap between designers and consumers by mass-producing fashionable items. The funds will be used by the startup to develop technology and expand its team. Prosus invested $10 million in Virgio last week as part of the current funding round, for a 6.25% stake in the startup. While AlphaWave invested nearly INR 60 Cr ($7.25 Mn), Accel India invested an undisclosed amount in the startup for a 16.29% stake.
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Fashion startup Virgio raised $37 million in its Series A led by Prosus Ventures, Accel and Alpha Wave. The startup is reportedly valued at $161 million.
Virgio employs a test-and-scale method that bridges the gap between designers and consumers by mass-producing fashionable items. The funds will be used by the startup to develop technology and expand its team. Prosus invested $10 million in Virgio last week as part of the current funding round, for a 6.25% stake in the startup. While AlphaWave invested nearly INR 60 Cr ($7.25 Mn), Accel India invested an undisclosed amount in the startup for a 16.29% stake.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
