Total amount raised
$155.3 Millions
Latest funding date
Location
Fashinza has successfully raised $20 million in its Series-A funding round, attracting significant interest from investors like Accel Partners and Elevation Capital. The platform offers a tech-enabled manufacturing solution for fashion brands, emphasizing fast production times and AI-driven supplier matching.
Keep reading to explore the intricacies of Fashinza's fundraising journey and the investors backing this innovative platform.
What Is Fashinza?
Fashinza, founded in 2020, is a tech-enabled manufacturing platform based in New York, New York. The company was established by Abhishek Sharma, Jamil Ahmad, Jibran Koul, and Pawan Gupta.
Fashinza offers a B2B marketplace that leverages AI to provide trend forecasting and sourcing solutions for fashion brands and retailers. Their services include design to delivery support, AI-driven supplier matching, and production management.
With a workforce of 251-500 employees, Fashinza aims to streamline the production process, reduce lead times, and support sustainable practices in the fashion industry.
How Much Funding Has Fashinza Raised?
- Seed Round
- Amount Raised: $2.6M
- Date: January 20, 2021
- Lead Investors: Accel, Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and scale early operations.
- Grant
- Amount Raised: $25K
- Date: January 12, 2021
- Lead Investors: Flipkart Leap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and innovation.
- Series A
- Amount Raised: ₹1.5B
- Date: August 2, 2021
- Lead Investors: Accel, Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform and increase market reach.
- Debt Financing
- Amount Raised: $2.7M
- Date: December 7, 2021
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and operational scaling.
- Series B
- Amount Raised: $60M
- Date: May 17, 2022
- Lead Investors: Prosus Ventures, WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the B2B marketplace and expand operations.
- Debt Financing
- Amount Raised: $40M
- Date: May 17, 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational scaling and international expansion.
- Debt Financing
- Amount Raised: $30M
- Date: March 28, 2023
- Lead Investors: LIQUiDITY Group, Mars Growth Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and meet growing working capital requirements.
Total Amount Raised: $135.325M
Current Valuation: Not publicly disclosed
Key Investors
- Accel
- Details: Accel is a global venture capital firm known for its investments in early and growth-stage companies. Founded in 1983, it has offices in Palo Alto, London, and Bangalore.
- Investment Focus Areas: Technology, consumer, enterprise.
- Notable Investments: Facebook, Slack, Dropbox.
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that invests in early-stage startups. It was founded in 2002 and has a strong presence in India.
- Investment Focus Areas: Technology, consumer, fintech.
- Notable Investments: Paytm, Swiggy, UrbanClap.
- Prosus Ventures
- Details: Prosus Ventures is a global consumer internet group and one of the largest technology investors in the world. It is a subsidiary of Naspers, a multinational consumer internet group.
- Investment Focus Areas: Internet, technology, consumer sectors.
- Notable Investments: Swiggy, Byju's, Meesho.
- WestBridge Capital
- Details: WestBridge Capital is an investment firm focused on investments in India. It was founded in 2000 and has offices in Silicon Valley and Bangalore.
- Investment Focus Areas: Public and private equity.
- Notable Investments: PolicyBazaar, Oyo Rooms.
- LIQUiDITY Group
- Details: LIQUiDITY Group is a global fintech company that provides growth capital through its proprietary technology platform. It specializes in automating the debt lending cycle.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Various tech startups.
What's Next for Fashinza?
Fashinza is poised to seize substantial opportunities as it expands into the USA, Gulf, and Europe. Leveraging its AI-driven platform, the company aims to streamline fashion supply chains and connect SMEs to top brands globally. With over 200 brands and 250 factories already on board, the potential for growth is immense.
Future fundraising rounds are likely as Fashinza scales its operations and enhances its technology. The company’s track record of raising over $135 million suggests strong investor confidence. However, challenges such as navigating international markets and facing competition from established players like Zetwerk and Zilingo remain. Maintaining service quality while scaling will be crucial for sustained success.
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