The Rajiv Dadlani Group and Equanimity Ventures led a pre-Series A round that raised Rs 15 crore for B2B managed marketplace The Yarn Bazaar.
Family Offices of Arihant Patni, Ekta Kapoor of Balaji Films, Ritesh Malik of Innov8, Aakrit Vaish of Haptik, and Sumeet Srivastava of Spocto have also participated in the round. Along with textile industry veterans Anil Mansingka and Dr. Amit Lath, the Sharda Group of Companies, Nikunj Bagdia of Ken Enterprises, and Vineet Garg of Shri Ram Sarup Garg Cotton Mills, Cred’s Miten Sampat also took part in the round.
The Yarn Bazaar stated in a press release that the funding will be primarily used to strengthen its senior leadership team, expand operations, and activate its already robust inbound pipeline.
The Yarn Bazaar, which Pratik Gadia founded in 2019, gives users access to real-time yarn prices, useful data, and significant market trends. Yarn sellers can increase market share, increase sales, and increase margins by utilizing proprietary processes and adaptable financing options, while buyers can successfully lower raw material and procurement costs.
The Yarn Bazaar platform claims to have completed over 370 crore rupees worth of transactions since its launch in 2019, with an average order value of Rs 19 lakhs.
The startup will continue to make investments in order to strengthen its online presence and enhance the overall user experience.
