Alia Bhatt is the latest celebrity to invest in a startup after acquiring a minority stake in a fashion-tech startup StyleCracker, which offers personalised fashion boxes curated by celebrity stylists to its consumers.
Bhatt has invested an undisclosed sum into the company, along with a consortium of investors, as part of Pre- Series A funding, according to reports by Economic Times.
Post this round, StyleCracker founders Dhimaan Shah, a former investment banker, and Archana Walavalkar, former fashion editor, Vogue, will jointly own 65% stake in the company, after the latest funding round.
Bhatt said: “This has come from heart and not mind. I am not actively looking for investments, but Archana has been my stylist for many years and when I came to know about StyleCracker, it seemed like a very logical move."
Shah said: “We are like style advisors for our customers. We are already seeing 60-65% repeat business, and this fund-raising will help us to scale up. We will also launch similar products for male consumers. Everyone needs a stylist."
“We were surprised to see that there is more demand from tier II and III cities. From small towns, we get more orders for Rs 4,999 and Rs 6,999 boxes.”