5 years ago

EkAnek Networks Secures Rs 40 Crore Series A1 Funding Led by Alpha Wave Incubation

  • India-based EkAnek Networks, the parent company of beauty and grooming ecommerce startup Foxy, has raised Rs 40 crore in a Series A1 funding round led by Alpha Wave Incubation

  • The funding will be used to expand Foxy's presence in Abu Dhabi for international expansion and to hire data scientists, product managers, and engineers.

      • ProblemRetail

      "Consumers in the Middle East and North Africa region have limited access to a wide variety of high-quality beauty and grooming products, and existing options often lack a personalized and convenient shopping experience."

      Solution

      "EkAnek Networks is building a mobile-first e-commerce platform called Foxy that offers a curated selection of beauty and grooming products, leveraging data and technology to provide a personalized and convenient shopping experience. They are also building a unique B2B2C full-stack offering to strengthen brand relationships and offer consumers an unparalleled experience."

      Covered on