Pernia’s Pop-Up Shop, the online fashion store, is in discussion with investors to raise $1-1.5 million as capital in its first funding round. The startup will use the funds for marketing and acquiring new customers. It is also looking to hire more staff, including senior-level executives. Pernia Qureshi, founder of Pop-Up Shop, said that “We have established our brand quite well and organic growth has been quite good so far, but there is always a potential to reach out to customers. So, our primary objective is to use the funds in marketing and enhancing the customer base”.
The online store sells jewelry, sarees and accessories from top Indian designers, besides its own Pernia Qureshi label women’s wear. Mihir Mehta, Assistant Vice President of Ashika Capital (advising Pernia on fund raising), also commented on the discussions, said that “We are currently targeting venture capital funds, high-net-worth individuals and family offices to raise funds for the company. It’s a very niche kind of business and therefore there is strong interest from investors. Customer segmentation in this business is very clear and there is lot of potential to scale further”.