Hyperlocal fashion commerce portal Yufta, a Jaipur headquartered owned and run by RKT LIFESTYLE PVT LTD has raised an undisclosed amount of money in pre-Series A round of funding from Ajay Data of Data Infosys Ltd, and a group of Mumbai and Dubai-based high net-worth individuals (HNIs). A group of high networth individuals from Dubai and Mumbai, also took part in the round.
Yufta curates fashion in women category and follows an omni-channel approach. The company is also looking to expand its presence. The new capital will be used for technology development and expanding to Delhi, Bangalore and Mumbai in the next six months, co-founder Ritesh Khandelwal told.
Jaipur-based Yufta was founded in 2013 by Ritesh Khandelwal, Ravi Khandelwal and Tarun Sharma. Ritesh Khandewal has a masters degree in computer science and has seven years of work experience in product management and technology while Ravi Khandelwal, a qualified chartered accountant, has earlier worked with Hettich International and Fortis Healthcare. Sharma has earlier worked with MTS.
The company claims to have a gross merchandise value of Rs 6 crore in the past one year, and claims to have shipped more than 1 lakh units till now. At present, Yufta has 12 shops in Jaipur.