Apparel Manufacturing Platform Fashinza receives $20 million led by Accel Partners & Others
Fashinza, a global B2B fashion manufacturing marketplace, has received a $20 million Series A round led by Accel Partners and Elevation Capital. DisruptAD from Abu Dhabi, Stride Ventures, Alteria Capital, and TradeCred also participated in the latest round. Anand Ahuja, founder of the fashion apparel brand Bhaane, and actor Sonam Kapoor Ahuja both contributed funds.
Fashinza, which works to create sustainable and futuristic supply chains for fashion brands while improving workers' lives, will use the funds to invest in supply-chain technology and expand its international presence, particularly in the United States and the Middle East.
Fashinza, founded in February 2020 by Abhishek Sharma and Pawan Gupta, handles everything from design to delivery for their partner brands by offering end-to-end online ordering, complete production tracking from the factory floor, a low minimum order quantity, and quick and ethical production.
With their mobile-based production management and visibility software, they connect family-run small and medium-sized audited factories to the cloud. According to the startup, it has over 400 ethical partner factories in India, Bangladesh, China, and Sri Lanka. It collaborates with brands in ten countries, including Forever21, noon.com, Centric Brands, Amaro, and Clovia.
Last year, the startup raised $2.6 million in seed round from Accel Partners and Elevation Capital.
Gupta explains that Fashinza arose from the need to improve the lives of millions of supply chain workers, the majority of whom are women, as well as to eliminate environmentally unsustainable practises in the industry.
Fashinza, in addition to its core offerings, solves the credit needs of fashion brands and suppliers in cross-border transactions through its ‘buy now pay later' programme.
Pratik Agarwal, Principal at Accel Partners, explains why the prestigious VC fund first backed the venture in its seed round last year and why it has continued to do so now.
“We are inspired by their electric execution against their vision of assisting fashion brands in adapting to the ecommerce era with agile manufacturing capabilities,” he says, adding that Fashinza's early success serving global brands validates the massive opportunity they are pursuing. Agarwal adds, “We are confident Fashinza can serve as a role model for more Indian startups building for the world from get-go.”
Fashinza, which works to create sustainable and futuristic supply chains for fashion brands while improving workers' lives, will use the funds to invest in supply-chain technology and expand its international presence, particularly in the United States and the Middle East.
Fashinza, founded in February 2020 by Abhishek Sharma and Pawan Gupta, handles everything from design to delivery for their partner brands by offering end-to-end online ordering, complete production tracking from the factory floor, a low minimum order quantity, and quick and ethical production.
With their mobile-based production management and visibility software, they connect family-run small and medium-sized audited factories to the cloud. According to the startup, it has over 400 ethical partner factories in India, Bangladesh, China, and Sri Lanka. It collaborates with brands in ten countries, including Forever21, noon.com, Centric Brands, Amaro, and Clovia.
Last year, the startup raised $2.6 million in seed round from Accel Partners and Elevation Capital.
Gupta explains that Fashinza arose from the need to improve the lives of millions of supply chain workers, the majority of whom are women, as well as to eliminate environmentally unsustainable practises in the industry.
Fashinza, in addition to its core offerings, solves the credit needs of fashion brands and suppliers in cross-border transactions through its ‘buy now pay later' programme.
Pratik Agarwal, Principal at Accel Partners, explains why the prestigious VC fund first backed the venture in its seed round last year and why it has continued to do so now.
“We are inspired by their electric execution against their vision of assisting fashion brands in adapting to the ecommerce era with agile manufacturing capabilities,” he says, adding that Fashinza's early success serving global brands validates the massive opportunity they are pursuing. Agarwal adds, “We are confident Fashinza can serve as a role model for more Indian startups building for the world from get-go.”
