Gurugram-based fashion supply chain startup Fashinza has raised $30M in working capital funding led by Mars Growth Capital and Liquidity Group.
The startup plans to use the raised capital to fuel its ongoing transition into a global business with significant operations in the USA, Gulf, and Europe.
Founded in 2020 by Abhishek Sharma, Pawan Gupta, and Jamil Ahmad, Fashinza said its AI-driven business-to-business (B2B) marketplace connects small, medium and micro enterprises directly to top fashion brands across the world.
Navas Ebin, Managing Director of APAC for Mars Growth Capital and Liquidity Group, said, “Fashinza is transforming the global fashion supply chain. Their performance since inception, the strength of their founding team, and their existing global network of manufacturers and customers gave us enough confidence in their ability to scale this business and sustain in the medium- to long-term.”
“Fashinza is a promising pre-unicorn with global aspirations. Mars Growth Capital and Liquidity Group have been supporting companies like Fashinza to transition into becoming truly global businesses, and the prospects for a long-term partnership with the company are exciting,” said Nir Shmueli, Investment Manager at Mars Growth Capital and Liquidity Group.
The startup claims to have a roster of over 250 factories that serves more than 200 brands in five countries, including the US, UAE, UK, and India. It also claims to have industry-leading customers such as Nykaa, Forever21, Noon.com, FirstCry, The Souled Store, and Bewakoof.com.
Source @Indianstartupnews
