Virgio has secured $37 million in a Series A funding to accomplish its vision to disrupt fashion discovery. The fashion startup, founded in 2022 by former Myntra CEO Amar Nagaram, deploys’ technology throughout the design, manufacturing and purchasing process in an effort to bring a new experience in the entire fashion lifecycle. The fashion brand is focused on Gen Z and late millennials.
“Virgio is pioneering the test and scale method, making runway fashion accessible and affordable for all consumers, while eliminating excess inventory for manufacturers,” said Amar, CEO and Founder of Virgio.
The brand is also envisioning a tech-led network of factories to enable designers to quickly build prototypes, get consumer feedback, and scale up production. Its app, available for Android and iOS users, uses technology to showcase trends and styles in an interactive mode. Looking ahead, the brand aims to bring in sustainable practices to address the challenge of fashion waste.
Ashutosh Sharma, Head of India Investments, Prosus Ventures, believes the fashion startup’s founding team is “uniquely positioned to capture a large opportunity” in India’s fashion industry.
The firms’ previous angel investors include Mukesh Bansal, Kunal Shah, Binny Bansal, Bhavesh Agarwal, Vidit Aatrey, Saif Ali Khan, Sriharsha Majety, Mekin Maheswari, Sameer Nigam, Reddy Ventures, and Viko Ventures.
Virgio envisions a brand that disrupts the way fashion is discovered
Virgio claims its app stands for the dawn of a new brand of Social commerce. A platform that defines and disrupts the way fashion is discovered, unveiled, experienced, favorited and owned. We are the new fashion version where you fit in and you stand out.
The funding round was led by Prosus Ventures, Accel, and Alpha Wave. The funds will go towards technology development and hiring, the company said in a statement.
