An IIM-Lucknow alumnus, Gaur had earlier worked at HT Media, Living Media India and Hindustan Unilever. Sharma is an IIM Bangalore alumnus who had previously worked at Accenture, Sapient and HCL. The company was founded in 2010 by Sandeep Sharma (COO and CTO), Vivek Gaur (CEO) and Anand Jadhav. Total expenditure rose from Rs 187.9 crore in FY2014-15 to Rs 290.3 crore in FY2015-16. In FY2014-15, it registered net sales of Rs 81.4 crore and a loss of Rs 106.3 crore, according to filings with the RoC. In FY2015-16, VAS Data Services posted net sales of Rs 104.1 crore and a loss of Rs 183.8 crore. Losses at the company have been mounting, with expenditure steadily rising. In February, Yepme joined e-commerce giant Amazon’s global selling programme, under which its fashion products will be sold in key European markets such as the UK, Germany, France, Italy and Spain. Several Yepme employees alleged in February that salaries were unpaid for several months and people were being forced to resign so as to avoid payment of a proper severance package. Of late, the startup has been in troubled waters with mass layoffs appearing imminent and salaries getting delayed for months altogether. The firm was also reportedly in fundraising talks with Japanese internet conglomerate SoftBank in January 2015. In September 2014, it raised $32.5 million from Helion Venture Partners II LLC, Capricorn Capital Partners and Morpheus Media Fund. Ltd, according to documents filed with the Registrar of Companies (RoC). Ltd and Noida-based ILearnFinance Academy Pvt.
The company, which makes its own brand name clothes, will put the money towards brand building and the launch of an ethnic India line ahead of the festive season of Diwali.Įxisting investor Helion took part in the fundraising, some sources say.The firm will use the funds for the operations of its UK entity, Yepme UK Plc which deals in fashion products exclusively for the international markets, mainly the US, Europe and the Middle East.Įarlier this month, Yepme raised Rs 4.5 crore (around $700,000) in bridge funding by issuing optionally convertible debentures to Kolkata-based Rainbow Digital Services Pvt. However, as per Crunchbase, has raised $45 million from a group of investors, investors names are still undisclosed. Indian online fashion retailer Yepme has raised an undisclosed amount of fundraising from Gokaldas Exports Ltd.
0 kommentar(er)
