B2B marketplace for global fashion supply chains Fashinza has raised $30 million in working capital from Mars Growth Capital and Liquidity Group. The funds will be utilised in fueling the company’s ongoing transition into a global business with significant operations in the US, Gulf and Europe. The company has so far raised $135 million from prominent investors such as Elevation, Prosus, Westbridge Capital, and Stride Ventures. The company raised $100 million in equity and debt from Prosus Ventures and Westbridge Capital in its latest round of funding in May last year. Prosus Ventures and Westbridge Capital have backed several Indian unicorn companies such as BYJU’S, BharatPe, Swiggy, among others. Commenting on this development, Abhishek Sharma, co-founder and COO of the company said, “As we focus on expanding our presence in international markets, including the USA, we are excited to partner with Liquidity Group to support our growth and to bring our innovative manufacturing solutions to a global audience.” The Gurugram-based start-up was founded in 2020 by Sharma, Pawan Gupta, and Jamil Ahmad. The company operates with over 250 factories and currently serves 200 brands. Fashinza has operations in several countries including the US, India, UK, and UAE. Sharma also added, “With their flexible cross-border financing solutions and extensive knowledge of navigating international markets, we are confident that we can successfully penetrate new markets and provide our manufacturing solutions to key clients worldwide. At the same time, we remain committed to delivering exceptional service to our key customers in the USA and beyond, as we continue to revolutionize the fashion manufacturing industry.” The B2B platform connects apparel and fashion brands with manufacturers and suppliers using artificial intelligence. It competes with several brands in the Indian market including the likes of Zetwerk, Zilingo, Bizongo, among others.
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