Bombay Shirt Company raises $8 mn from Lightbox Ventures
Pic: Bombay Shirt Company
Mumbai-based apparel and fashion start-up Bombay Shirt Company recently announced raising $8 million from early-stage venture capital firm Lightbox Ventures in its latest equity funding round. It will utilise the fund to automate its production and supply chain operations and expand its physical presence in 40-50 locations in the next one and a half years.
The company also plans to widen its menswear category, by including newer products like trousers and denim among others, according to Indian media reports.
Founded in 2012 by Akshay Narvekar, Bombay Shirt Company offers online tailor-made shirts to its consumers. It has 16 stores across India, Dubai and New York now. It had earlier raised funding from the Patni Group.
Consumer tech-focussed Lightbox Ventures was founded in 2014 by Sandeep Murthy, Siddharth Talwar and Prashant Mehta. Previously, the venture capitalist firm has backed many consumer tech companies, including Melorra Bags, Generico, Flintobox, Faasos and Droom.
This is the latest investment, and the VC firm in September had closed its third India-focused investment fund at $209 million with the participation of 28 investors.
Fibre2Fashion News Desk (DS)