Fashion & lifestyle e-tailer MiraiStore raises angel funding from Uniworld Logistics' chief

Bangalore-based fashion and lifestyle e-commerce company Uniworld Lifestyle Solutions Private Ltd, which runs the recently launched MiraiStore, has raised an undisclosed sum in angel funding from Uniworld Logistics' group managing director and CEO, Prem Kumar M. It has disclosed this on its website.

The capital raised will be utilised in scaling up operations and will also be used for product development, improving logistics, backend systems and for marketing.

MiraiStore has an assorted range of collections from designers like Manoviraj Khosla and Sarita Mandoth, Rahul Mishra, Divya Anand, Krishna Mehta and Priyadarshini Rao as well as brands like Scullers, People, Manchester United, W, USI and more. It stores merchandise in apparel and accessories.

MiraiStore was founded by Ram Bhamidi  (former senior VP, online marketing, People Interactive) along with Asha Shridhar, ex-chief brand manager, Scullers brand and Myntra.com co-founder Sankar Bora.

Bhamidi , an alumnus  of IIT, Kharagpur and IIM, Ahmedabad, started his career with Tata Motors in 1996 and has also worked for Infosys, Goldman Sachs, PartyGaming and Shaadi.com.

At MiraiStore, Bhamidi is the CEO, Shridhar is looking after brands as COO and Bora is COO for operations. They also have on board Femina Prem, co-founder and director, Uniworld, as director looking after PR and corporate communication for the new-born e-shop.

MiraiStore is focusing a lot on logistics leveraging on links with Uniworld, which serves over 400 destinations worldwide through 32 offices in 10 countries. Uniworld has facilities and warehouses at Chennai, Mumbai, Bangalore and Delhi, and as per MiraiStore has hit a turnover of $100 million since its inception in 2002.  Uniworld Logistics specialises in fashion logistics and currently handles domestic logistics for several international brands.

(Edited by Prem Udayabhanu)