Prosus Ventures and Westbridge led a $100 million Series B fundraising round for Fashinza, an India-based B2B clothing manufacturing platform.
Fashinza’s current investors Accel, Elevation, ADQ, and a few angel investors participated in the investment round, which was a mix of stock and debt.
The Gurugram-based firm’s AI-powered platform, which was launched in 2020 by Pawan Gupta, Jamil Ahmad, and Abhishek Sharma, covers everything from design to delivery for partner businesses, with a focus on sustainability.
The firm works with over 250 manufacturers in six countries, including the United States, the United Arab Emirates, Canada, and India, to supply over 200 brands. Fashinza stated its annualized gross merchandise value run rate increased by 10 times in the previous 12 months, surpassing US$150 million.
“We are now also using the massive data we generate to solve financial challenges for our customers and suppliers with our fintech products,” Sharma, Fashinza’s COO, said in a statement.
The money will be used to build a sustainable supply chain for the global fashion industry and expand the company’s global footprint.
Fashinza has secured $20 million in a Series A round-headed by Accel Partners and Elevation Capital, with participation from DisruptAD, Stride Ventures, Alteria Capital, and TradeCred from Abu Dhabi.
