Curated Fashion Site Gets $5M Hedge Fund Investment

Social networking and fashion seem to pair together nicely. Roposo, an online platform and social networking service for fashion products, has just emerged from its first round of funding, and the startup is likely pleased at the result.

Venture capitalists raised $5 million in Series A funding for India-based Roposo, adding to the previous $1 million in seed funding obtained by the company. Backers included India Quotient and Flipkart co-founder and COO Binny Bansal.

That puts Roposo in warm company for its service, which allows online and mobile shoppers to search and log makeup and clothing as they scour the Web. But the platform also highlights popular items and trends, plus gives brands a platform to create a store account. According to reports, about 150 fashion digital retailers use Roposo to market their products.

“We want Roposo to be better than Google and Facebook for fashion searches,” said co-founder Mayank Bhangadia in a statement. “We are sure serious fashion seekers will make Roposo their default fashion search engine.”

According to reports, the startup launched in 2013 and based its business model off the recommendation engine used for gift suggestion service Giveter. At present, the company offers a mobile app for Android and iPhone, though reports said that the firm will launch a website soon.

Roposo isn’t the first high-tech fashion service to grab positive attention from investors. Last month, Le Tote secured $8.8 million in backing from several VCs. The service was dubbed the “Netflix for clothing,” offering personalized clothing rental services. Just days later, luxury fashion service Moda Operandi revealed a whopping $60 million fundraising round to boost its operations, which connects online shoppers with clothing lines one hour before a fashion show debuts the products to the public.