Personal shopping app Voonik wins $5 million in funding
- Personal shopping app Voonik has raised $5 million in venture capital from Sequoia Capital and Seedfund.
- Voonik will use the money to improve its recommendation engine, which offers items Tinder-style for customers to indicate approval by swiping left or right.
- The app has more than 1 million downloads and handles 2,500 purchases per day.
Sequoia Capital and Seedfund are putting $5 million in Series A financing into Voonik, an app designed to make shopping for apparel easier in India.
The app features a Tinder-style interface that allow users to swipe left or right to vote on items selected for them by its recommendation engine. Voonik will use the funding to improve the engine, which applies more than 10,000 rules to tailor offerings to each user based on past activity.
The app offers about 500,000 different SKUs from sellers such Zovi and Fashionara, and handles checkout and customer service, allowing its partners to handle shipping. Voonik earns an average 15% commission on sales, and processes about 2,500 purchases every day.