Home / Knowledge / News / Apparel/Garments / India's FableStreet raises ₹21 cr In series A funding

India's FableStreet raises ₹21 cr In series A funding

17
Dec '19
Pic: FableStreet
Pic: FableStreet
FableStreet , an Indian technology-enabled premium workwear brand, offering custom fits for women, recently raised ₹21 crore in series A led by Fireside Ventures. The funds will be utilised for market expansion including offline presence, adding product categories and hiring senior professionals who will partner in growth and brand building.

It also plans to invest in artificial intelligence and machine learning to build a customer recommendation engine, strengthen product development and set up a tech-enabled efficient supply chain.

Industry heavyweights, including Pradeep Parameswaran, president for Uber India and South Asia, Dilip Khandelwal, managing director and head of technology of Deutsche Bank, and Suhail Sameer, chief executive officer at RP-Sanjiv Goenka Group, have also participated in this round and invested in their personal capacities, according to Indian media reports.

FableStreet is already ahead of curve in this space with its strong data-backed proprietary tailored fit algorithm - a sizing algorithm that only requires the customer to provide three body measurements online to extrapolate the remaining measurements to 95% accuracy and build a custom-fit garment.

FableStreet plans to enter offline retail with brand-owned stores in the coming months and will now adopt an omni-channel model.

The brand is one of the first Indian brands to tap the growing white space of ‘women’s formal wear with a unique business model and competes with the likes of Marks & Spencer, Massimo Dutti, Zara among others in quality workwear category.

In 2017, FableStreet had raised an undisclosed sum in seed funding from a clutch of angel investors, including Harmeet Bajaj, Unilever vice president Pameela Pattabiraman, Fusiontech Ventures and other investors in the consumer, retail and technology sectors.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

E-commerce | On 3rd Mar 2021

Digital e-com rules may negatively affect developing

Many digital rules being framed by a group of 86 countries under the...

Pic: Shutterstock

E-commerce | On 3rd Mar 2021

Jordan govt urged to impose tax on online purchases from

Asad Qawasmi, who represents the garment and jewellery sector at the...

Pic: Huntsman Textile Effects

Textiles | On 3rd Mar 2021

Huntsman, Sciessent partner for microbe & odour resistant

Huntsman Textile Effects, a Singapore-based provider of high-quality...

Interviews View All

Top executives, Textile industry, India

Top executives
Textile industry, India

The event should be organised every year

Riddhika Shah, SS Homme

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Amol Bhagwati,

Amol Bhagwati

A textile finishing solution provider, Inspiron Engineering Private...

Priyanka Salot,

Priyanka Salot

The Sleep Company was established to upgrade the sleep quality of every...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search