Mumbai: Mumbai-based online designer outlet dedicated to men, Festise.com, has raised $5 million in seed funding from SeedFund. The deal commits to taking off a minority stake in the company by SeedFund.

Currently with 100 employees, Fetise.com was launched in March 2011 by Abhishek Shah, Somya Tambi, Chetan Bafna and Subir Ghosh, Fetise claims to transact per day at a revenue of around 2.5 crore per month. “We currently have a warehouse in Delhi and are planningto use the fund to open in Mumbai and Bangalore for making prompt delivery to our consumers,” says Siddharth Puri, Marketing Manager, Fetise.com. The fund will also be used to enhance the marketing and technology integration of the company.

Fetise.com is a premium site especially dedicated to men’s wear targeting the male segment from the age group of 25-40 years. “The roadmap of the company consists of launching our own fashion brand. As of now, we are planning to offer more products and better customer services through prompt delivery to create brand loyalty,” says Puri.  

Puri comes with six years of experience in marketing and business development. He has managed assignments across diverse industries like Publishing, Online Media, Real Estate and Healthcare. Puri holds a Post Graduate Diploma in Business Administration, Marketing, from Symbiosis Institute of Management Studies.

SeedFund is an early-stage venture capital fund, with operations in Mumbai, Bangalore and New Delhi. The company was founded in 2006 by Bharti Jacob, Mahesh Murthy and Pravin Gandhi. The clientele of SeedFund includes AFAQS, CarWale, EduSports, Healthizen, Ixsight, Lifeblob and several others.