India, Dec. 10 -- Quick fashion startup KNOT has secured $ 5 Mn (about INR 44.9 Cr) in a fresh funding round led by Blue Tokai-backer 12 Flags. The round also saw participation from existing investors Kae Capital and Boundless Ventures.

In a statement, KNOT said it will use the funding to expand its 60-minute delivery network in Mumbai and other geographies, strengthen micro-warehousing, routing efficiency, and last-mile operations to support higher order volumes.

Founded by Archit Nanda and Rachit Bansal, KNOT is a pivot from Slick, which was a social media platform which allowed users to compliment each other anonymously. Slick aimed to revive personalised connections on social media and boost users' confidence. It raised $2.1 Mn fund...