Puneet Dalmia along with other investors picks up 16% stake in STATE3.CO

Investors infuses Rs 2 crore in the fashion styling and rental platform

Puneet Dalmia of the Dalmia Bharat Group and other investors have picked up a 16 per cent stake in STAGE 3.CO, an omni-channel fashion styling and rental platform. The investors have infused Rs 2 crore into the company, which made soft launch of its platform recently.

The investors include Nisha Kumar, the ex-CFO of Rent the Runway and AOL Inc, Puneet Dalmia of the Dalmia Bharat Group (in his personal capacity) and Balaji Prabhakar, Professor of Computer Science at Stanford University and Chief Scientist at Urban Engines.

Stage 3.co is led by Sabena Puri, a Harvard Business School graduate, Rina Dhaka, leading Indian fashion designer and Sanchit Baweja, former CEO of Buttons and Threads.

 

Company's co-founder & CEO, Sabena Puri said that besides the money these "smart investors" will help the company in strategies, handling finance, cracking data and in other initiatives.

She said from January the company will expand its operations to other parts of the country by April 2016. The company is targeting to handle around 50 orders a day next year. Initial focus will be tier I cities, followed by tier-II towns. Company's target customers are women who are in the age group of 21-35.

"Stage 3 makes the glamour and style of superstars and celebrities accessible to modern Indian women. Our members can play dress up with curated, authentic outfits from top designers that have been paired with accessories by our in-house styling team. Our mission is to make higher end outfits accessible to our members and leverage technology to help them choose what would look best on them for different occasions on their social calendar," she said.