Fashor Raises Pre-Series A From Sprout Venture Partners To Accelerate Growth
Summary
It plans to emerge as one of the leading affordable fashion brands in the country The company has over 75K customers and claims to generate over 70% profit through its website and mobile app Fashor will be utilising the funds for brand expansion across online and offline channels Chennai-based women’s fashion and apparel startup Fashor, on Wednesday (January 1), announced that it has raised $1 Mn (INR 7.1 Cr) in a Pre-Series A funding round led by an early-stage and seed-stage venture capital firm Sprout Venture Partners. Fashor believes that it is going to make use of the opportunity to create a disruption in the niche segment and emerge as one of the leading affordable fashion brands in the country. However, a lot of private labels and startups have emerged in the market with unique business models to make fashion affordable, accessible, personalised and more. In November 2019, Alia Bhatt backed personal styling platform StyleCracker raised $2 Mn from US-based investor AMJ Ventures. Women-centred ecommerce platform SimSim also raised $6 Mn (INR 43.49 Cr) in a Series A funding round led by Accel India and China-based Shunwei Capital.