Virgio, a Bengaluru-based tech startup founded in 2022, has raised $37 million in a funding round led by Prosus Ventures, Accel and Alpha Wave.
The start-up said the capital raised in the Series A funding round will be used for further technology development and employment.
Focused on Generation Z and late millennials, the company uses technology throughout the design, manufacturing and purchasing process, seeking to streamline the entire fashion lifecycle.
“Traditionally, the fashion industry has relied on depth and discount models. Virgio pioneered the method of testing and scaling, making runway fashion accessible and affordable for all consumers, while eliminating excess inventory for manufacturers,” said Amar Nagaram, CEO and founder of Virgio, who was the former CEO of Myntra.
Looking to the future, Virgio strives to introduce sustainable practices to meet the challenge of wasting fashion.
Previous Virgo business angels include Mukesh Bansal, Kunal Shah, Binny Bansal, Bhavesh Agarwal, Vidit Aatrey, Saif Ali Khan, Sriharsha Majety, Mekin Maheswari, Sameer Nigam, Reddy Ventures and Viko Ventures.