The Bengaluru-based company will deploy the funds to scale platform development, expand its product and engineering teams, and onboard new brand partners globally, especially across Europe and the UAE.
The round also saw participation from prominent entrepreneurs, including Flipkart Co-Founder Binny Bansal, CaratLane's former CEO Mithun Sacheti, OYO CEO Ritesh Agarwal, Sparkl Edventure's Aakash Chaudhary, and Apoorva Patni.
Angel investors, including Binny Bansal (Flipkart co-founder), Nikhil Kamath (Zerodha co-founder), and Sriharsha Majety (Swiggy co-founder), also participated in the round.
This round comes not long after it raised a separate $30 million round in August last year from Bertelsmann India Investments, Accel Partners and Sequoia India.
In an exclusive conversation with Entrepreneur India, Varun Dua, the MD and CEO of Acko General Insurance unveils the key that locked his partnership with Binny Bansal