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AMJ Ventures invests $2 million in StyleCracker

This is AMJ’s third and largest investment in India since starting the family business earlier this year. The office was started after a partial exit from Brillio which received investment from Brain Capital this January. Before StyleCracker, AMJ ...

, ET Bureau|
Updated: Nov 15, 2019, 07.20 PM IST
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“We've set up this fund with an aim to invest in the new generation of entrepreneurs who are disrupting the status quo globally,” Anish Patel, founding partner, AMJ Ventures told ET.
MUMBAI: US-based family office fund AMJ Ventures has invested $2 million in actress Alia Bhatt backed fashion-tech startup StyleCracker. The startup will be using the funds to build further capabilities in machine learning and strengthening its moat on the personalisation front, said Dhimaan Shah, co-founder and MD, StyleCracker.

“We have turned operationally profitable in January this year. Now we want to enhance our product by building a stronger pan India presence and creating more brand awareness. In the last 12 months, we have shipped to over 340 cities and towns in India and almost 55% of our orders are repeat orders,” Shah said.

This is AMJ’s third and largest investment in India since starting the family business earlier this year. The office was started after a partial exit from Brillio which received investment from Bain Capital this January. Before StyleCracker, AMJ made investments in Avail Finance, a Bangalore-based loan financing service and Propelled, a lender for higher education courses.

“We've set up this fund with an aim to invest in the new generation of entrepreneurs who are disrupting the status quo globally,” Anish Patel, founding partner, AMJ Ventures told ET. “We want to invest in early stage consumer and consumer tech companies.”

“It is disrupting retail in a very unique and a very different way where the company truly understands the consumer using machine learning and artificial intelligence to service customers better and more efficiently,” Patel said.

Started by Shah, a former investment banker, and Archana Walavalkar, former fashion editor, Vogue, StyleCracker curates fashion, accessories and beauty tailored to each customer’s preferences and budget.

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