IIT Delhi alumnus' lingerie brand Clovia raises $10 million
Lingerie retailer Clovia's parent company Purple Panda Fashions has raised $10 million in a fresh funding round led by Singapore-based firm AT Capital. Existing investor IvyCap Ventures also invested about $3 million. Clovia has been operationally profitable and the capital would help expand in tier-2 and tier-3 towns across India, said Co-founder and CEO Pankaj Vermani, an IIT Delhi alumnus.