Fashinza has raised $2.6M in seed round led by Accel Partners and Elevation Capital. The tech enabled platform aims to solve clothing supply problems by connecting fashion brands to manufacturers.
Pawan Gupta, CEO & co-founder, Fashinza, stated, “The global apparel supply chain needs technology driven intervention for it to become efficient and fair. It needs to be more agile and it should be able to respond to changes much more quickly than it does at present. For instance, during the pandemic, when the retail orders dived south, we were able to provide a scalable demand-supply matching platform for all PPEs and enabled the production of complete PPE kits by onboarding a greater number of suppliers in the moment of need.”
“The funding that we have received is an acknowledgment of our potential to transform the apparel supply chain and it will be invested to facilitate our growth in different directions. We are expanding our network of manufacturers globally and are working with leading brands across 10 countries. Our mission here is to combine innovation with sustainability,” Gupta added.
The B2B manufacturing marketplace plans to use the funds raised to solve apparel supply challenges by digitising the entire sourcing cycle – design to delivery.
Pratik Agarwal, Vice President of Accel Partners, commented, “We’re proud to be partners with Fashinza as they represent the ambition of next-gen Indian founders going after large global opportunities. The time is right for Fashinza as they reinvent the $500bn global fashion supply chain for the e-commerce era. Pawan and Abhishek are exceptional operators who put team and customer success first and have instilled the right cultural DNA in Fashinza very early on.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.