India’s Elanic is encouraging a used clothes marketplace with its latest funding

Elanic, a Bangalore-based marketplace for used clothes, has announced a new round of seed funding today. The round was led by Rebright Partners, a Singapore-based Japanese VC, TracxnLabs, and angel investor Aneesh Reddy, founder at Capillary Technologies.

The funding amount remains undisclosed.

Elanic, founded by Palkush Rai Chawla, Aditi Rohan, and Abhilash Narhari, is a C2C marketplace that helps the user sell or buy pre-owned clothes, bags, shoes and accessories. The startup claims to simplify and standardize transactions in India’s less-than-developed used fashion marketplace.

Elanic’s Android app allows users to upload pictures of an item for sale. Then, once sold, it is picked up by Elanic and the level of damage, size, and brand authenticity is inspected before dispatching the product to the buyer.

Women often don’t use a large part of their wardrobe more than three or four times, and Elanic’s marketplace is modeled on the concept of sharing economy. Abhishek Goyal from TracxnLabs said, in a statement, “As sharing economy sweeps the market, this is a large inefficiency ready to be disrupted.”