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The Indian <a href="http://www.businessinsider.in/searchresult.cms?query=lingerie">lingerie</a> industry is rapidly evolving and is currently valued at Rs 18,000 crores. It is also expected to grow between 17-26% CAGR in the coming years and with women shedding off their inhibitions and keen to try bolder colours, material and designs instead of the usual black and white bras means one thing- <keyword id="460" type="UNKNOWN" weightage="80" keywordseo="lingerie">lingerie</keyword> brands need to up their game. 
 But how do the brands know what a girl wants? Two year old premier lingerie brand <keyword id="2890229" type="UNKNOWN" weightage="80" keywordseo="Clovia">Clovia</keyword>, founded by <keyword id="3077900" type="UNKNOWN" weightage="80" keywordseo="Pankaj-Vermani">Pankaj Vermani</keyword>, who holds a Masters in Computer Applications from <a href="http://www.businessinsider.in/IITs-to-increase-PhD-enrollments-in-coming-years/articleshow/47553594.cms">IIT</a> Delhi and backed by Ivy Cap Ventures, Zurich-based Mountain Partners AG and a group of private investors, seems to have found the answer. 
 The company has started using <keyword id="774829" type="ORGANIZATION" weightage="80" keywordseo="Big-Data">big data</keyword> and technologies such as machine learning and artificial intelligence for manufacturing undergarments. To simplify, they manufacture lingerie based on the design and the quantities the customer wants. 
 
Elaborating on the process, Vermani says, “Clovia stands for an amalgamation of fashion and technology and through this, we’re trying to stick to those very beliefs. Traditionally, brands have already made a decision regarding what customers want to wear, irrespective of whether it is right or wrong. We intend to change that.” 
 
The idea is to let the proprietary technology engine analyse the speed at which the products are selling and the customer’s feedback on the products. Based on the interest from the customer, which is indicated via selling patterns and the feedback from the consumer, the system decides which design or style needs to be replenished and which should be discarded, he adds. 
 
 
“The Clovia Design team spawns multiple styles of bras, briefs and night wears in the market in small quantities, sometimes almost 1/10th of the industry’s standard for minimum quantities. Once put to sale, the technology team takes over and manages the entire decision-making from there on. I lead and look after the whole process to ensure it works out seamlessly,” Vermani (in picture above) tells us. 
 
On being asked what prompted this move, he shares that it was the common problem faced by everyone- find that a product you like is either sold out or not available in your size. “These glitches hamper the consumer’s shopping experience and as a brand, we aim to minimize all these obstacles. Apart from this, we’re also keeping an eye on generating insights based on historical data regarding seasons, geographical preferences of customers and even times of day! 
 
“There is no better way to increase your target audience than by understanding them,” Vermani claims. 
 
He adds that due to utilizing this technology, Clovia is maintaining one of the most efficient inventories, reducing operational costs and increasing profit margins. 
 
“Thanks to better management and opportunity speculations, the production has gone up to 5 lakh units per month and we are now selling internationally as well and most of the inventory is usually under 30-45 days! That’s phenomenal in an industry plagued by unsold stocks and constant liquidations eating into profit margins.” 
 
To conclude, Vermani quips, “India is at a cusp of an innerwear revolution, and Clovia is right in the middle of it – ready to welcome a brave new world!”

This Indian lingerie brand uses big data to make better bras!

<ul><li>The round also saw participation from Accolade Holdings and <keyword id="2238518" type="General" weightage="50" keywordseo="letsventure" source="Orion">LetsVenture</keyword>. </li><li>Marquee angel investors including <keyword id="1603758" type="General" weightage="50" keywordseo="prashant-tandon" source="Orion">Prashant Tandon</keyword> (founder, 1Mg ) Pankaj Vermani (founder, Clovia), and PE veteran <keyword id="192356" type="General" weightage="50" keywordseo="vishal-gupta" source="Orion">Vishal Gupta</keyword> (<keyword id="256285" type="General" weightage="50" keywordseo="ta-associates" source="Orion">TA Associates</keyword>) also invested. </li><li>The funds will be used to rapidly scale AUM, improve the existing technology stack as well as to build and expand the team. </li></ul>Fintech startup <keyword id="12679863" type="General" weightage="100" keywordseo="loankuber" source="Orion">LoanKuber</keyword>, a digital mortgage platform for MSMEs, on Thursday said it raised $2 million as part of its ongoing Series A round led by <keyword id="7036829" type="General" weightage="80" keywordseo="inflection-point-ventures" source="Orion">Inflection Point Ventures</keyword>. The round also saw participation from Accolade Holdings, LetsVenture, family offices, and marquee angel investors including Prashant Tandon (founder, 1Mg ) Pankaj Vermani (founder, Clovia), and PE veteran Vishal Gupta (TA Associates). The funds will be used to rapidly scale assets under management (AUM), improve the existing technology stack as well as to build and expand the team. The company aims to build an AUM of ₹200 crore in the next 15 months as part of its expansion plan. “The funds will be used to further fuel our mission of offering innovative and affordable mortgage solutions to micro-SMEs and the next half billion Indians. The current fundraising will help us further invest in the team, technology, and operations to fulfil our mission,” <keyword id="2389017" type="General" weightage="50" keywordseo="saurabh-nagpal" source="Orion">Saurabh Nagpal</keyword>, CEO, LoanKuber said. Nagpal, an alumnus of IIT Delhi, founded LoanKuber in 2017. It provides customised mortgage loans to underserved Micro, Small and Medium Enterprises (MSMEs). The mortgage financing gap for MSMEs in India is estimated to be $300 billion, the company statement said. “Over the last year, LoanKuber has successfully built an extremely capital-efficient and profitable business. We have invested in the company from their Pre Series A stage and continue to back their vision as they grow at a healthy rate and address a huge financing gap which exists today in the Indian MSME sector,” <keyword id="1276077" type="General" weightage="50" keywordseo="mitesh-shah" source="Orion">Mitesh Shah</keyword>, co-founder, Inflection Point Ventures said. Loankuber has built an automated institutional co-lending platform for micro-mortgages allowing for competitive pricing to the end-customer while generating high yields on its own NBFC balance sheet, said the company. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indigo-stock-slides-4-in-early-trade-after-reports-of-a-large-block-deal/articleshow/97970085.cms">Indigo stock slides 4% in early trade after reports of a large block deal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-surge-after-msci-delays-its-decision-to-may/articleshow/97969092.cms">Adani group stocks surge after MSCI delays its decision to May</a>

Mortgage platform LoanKuber raises $2 million led by Inflection Point Ventures

2015 has been a momentous occasion for the burgeoning Indian <a href="http://www.businessinsider.in/searchresult.cms?query=startups">startups</a>, and Prime Minister <a href="http://www.businessinsider.in/searchresult.cms?query=narendra+modi">Narendra Modi’s</a> <a href="http://www.businessinsider.in/searchresult.cms?query=startup+india">Startup India</a> initiative was the icing on the cake. 
 With policies devised especially keeping the need of <keyword id="6362513" type="ORGANIZATION" weightage="80" keywordseo="Startups">startups</keyword> in mind and with aid from founders of startups themselves, it’s a given that they should be happy and content at the moment. 
 
However, that’s not the case. 
 This could be blamed on the fact that a few of the policies announced at the <keyword id="3003094" type="UNKNOWN" weightage="80" keywordseo="Startup-India">Startup India</keyword> event were quite ambiguous, not to forget generic. Thus, founders have some additional expectations from Arun Jaitley’s <keyword id="2783177" type="UNKNOWN" weightage="100" keywordseo="Budget-2016">Budget 2016</keyword> so that their demands relating to their personal sectors are more or less met. 
 According to Rajiv Sharma, MD and co-founder of <keyword id="3186078" type="UNKNOWN" weightage="80" keywordseo="dPronto">dPronto</keyword>, a last-mile delivery and logistics company that was in the new for typing up with e-commerce giant Flipkart, the need of the hour is adequate budget resources allocated for the social sector. 
 
“While it is important to boost the confidence to global investors by way of structural reforms and find a way to achieve the fiscal deficit target of 3.5 per cent in FY17, there shoudl also be high focus on inclusive growth and adequate measures to ensure upliftment of the rural sector, creation of more employment opportunities, and enriching the lives of women, children, senior citizens and people below the poverty line,” he believes. 
 
However, for Varun Dua, CEO and co-founder of <a href="http://www.businessinsider.in/searchresult.cms?query=coverfox">Coverfox,</a> a one of a kind online insurance portal, the key priority remains in deregulation and allowing<a href="http://www.businessinsider.in/searchresult.cms?query=FDI"> FDI</a> in fintech. “Most fintech businesses like payment banks / insurance have heavy dependence on domestic capital which is mostly risk averse and thus scarce.” 
 
The Budget should also consider relaxation in structures which make private secondary transactions more liquid from a tax or complication perspective, Dua adds. 
 
Then, there’s Pankaj Vermani, the CEO of <a href="http://www.businessinsider.in/searchresult.cms?query=CLOVIA">Clovia</a>, an e-commerce website which focuses on lingerie, who believes that it should be seen that the boom experienced by the e-commerce industry in 2015 should continue, at any cost. 
 
“To ensure that the growth continues the <keyword id="6360189" type="COMPANY" weightage="80" keywordseo="Union-Budget">Union budget</keyword> needs to provide greater tax clarity especially related to jurisdiction / taxability issues. We are also hoping for a positive clarification for the Central Sales tax on transactions such as cash on delivery, which involve inter-state movement of goods.In addition, today every region has different laws for eCommerce. To govern the sector better one needs better definition of the category and a centralized law," he signs off. 
 
Image credit: Indiatimes

Budget 2016: This is what startups are expecting. Are you listening, Arun Jaitley?

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This Indian lingerie brand uses big data to make better bras!

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Mortgage platform LoanKuber raises $2 million led by Inflection Point Ventures

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Budget 2016: This is what startups are expecting. Are you listening, Arun Jaitley?

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