B2B fabric marketplace and procurement platform Fabrito raises funding
Summary
Fabrito, a business-to-business (B2B) fabric marketplace and procurement platform, has raised an undisclosed amount in a funding round led by Green Trunk Ventures.Notable angel investors, including Maninder Gulati from OYO, Krishna Kalyan T D from Laurus Bio, and Puja Jain, an ex-McKinsey professional, also participated in the funding round.The startup will use the raised capital to enhance its technology infrastructure. This includes developing a software-as-a-service (SaaS) platform designed specifically for ready fabric suppliers.Additionally, Fabrito aims to bolster its fabric sourcing platform, catering to the needs of fashion brands and garment manufacturers.The startup plans to leverage technology to provide a curated selection of ready fabrics, ensuring lower turnaround times, minimal order quantities, and competitive pricing.What does Fabrito do?Founded in 2023 by Naresh Dhaka, Pushpendra Singh, and Mayank Narain, Fabrito is a B2B fabric marketplace that simplifies fabric sourcing for brands and garment manufacturers.The platform aggregates a collection of ready-to-ship fabrics, which can be quickly replenished.Fabritos business model focuses on providing a wide assortment of fabrics, utilizing technology to offer better prices and lower minimum order quantities (MOQs).In addition to technological advancements, Fabrito intends to use a portion of the funds to expand its network of textile manufacturers and sellers. This will involve significant recruitment efforts across sales and supply verticals.By hiring additional sales and supply resources, Fabrito aims to build stronger relationships within various textile hubs across India. This strategic move is expected to enhance the companys market presence and streamline its operations in key textile centres.