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Bangalore based raises $20 m in funding

, February 9, 2012, 0 Comments

Bangalore, February 09, 2012 : In its 3rd round of funding bangalore based online fashion and lifestyle retailer has raised $20 million. Funds raised during this round will be primarily used for tech platform, supply chain and brand building. In a market of about 10 million e commerce users, Myntra today has a customer base of over 2 million. Myntra receives about 5,000 orders a day, according to Mukesh Bansal, Founder and CEO, said. The company hopes to increase customer base to about 5 million and capture about 30 per cent of the e-commerce market. Company is also planning to establish a warehousing unit in Mumbai, which will be its third after Bangalore and Delhi in order to meet the growing demand.