Indian fashion manufacturing platform Fashinza raised $100 million in a Series B round, the company announced Tuesday.
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Prosus Ventures and Westbridge led the round, which included participation from investors including Accel, Elevation and ADQ. Equity financing and debt made up the Series B.
Fashinza connects fashion brands to manufacturing partners. The company’s platform has more than 250 manufacturers that serve more than 200 fashion brands that span six countries, according to a statement from the company.
“Our mission is to create a sustainable, futuristic, and agile fashion supply chain using technology while improving the ethics and sustainability in the supply chain,” co-founder Abhishek Sharma said in a statement. “We are now also using the massive data we generate to solve financial challenges for our customers and suppliers with our fintech products.”
The Gurgaon-based company, which was founded in 2020, will use the new funding to invest in supply chain tech and expand Fashinza’s global presence. In the past year, Fashinza has grown its business 10x, according to the company.
The funding comes at an opportune time, as global supply chain issues hamper a variety of industries.
Fashinza last raised an Accel- and Elevation Capital-led Series A in August 2021. With the Series B round, the company’s total funding reaches more than $122 million, according to Crunchbase.
Illustration: Li-Anne Dias
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