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• FS Life raises Rs 35.5 crore ($4 Million) in Series B after 3 years
• Colossa Ventures leads, with Fireside Ventures and others participating
• Funds will support FableStreet, March Jewellery, and Pinkfort’s expansion

FS Life, the parent company of direct-to-consumer (D2C) women’s fashion brand FableStreet, is raising Rs 35.54 crore (around $4 million) in a new Series B funding round. The round is led by Colossa Ventures, with participation from Fireside Ventures, ASA Holdings, HirePro Consulting, NKA Resources, and several angel investors.

This is FS Life’s first major funding in three years, after it raised Rs 50 crore in a pre-Series B round led by Fireside Ventures. According to the company’s filing with the Registrar of Companies (RoC), FS Life will issue 10,282 Series B compulsory convertible preference shares at Rs 34,568 per share to raise the total amount.

Colossa Ventures, through its WomenFirst Fund, is contributing Rs 10 crore, while Fireside Ventures is investing Rs 7 crore. ASA Holdings and HirePro Consulting are also investing Rs 3 crore and Rs 2.5 crore respectively. The company has already received Rs 9.44 crore from this round in July and expects to close the remaining amount soon.

Founded in 2015 by Ayushi Gudwani, FS Life runs three brands, FableStreet, which offers western wear; March Jewellery, which features sterling silver and semi-precious pieces; and Pinkfort, which brings a contemporary touch to Indian ethnic wear.

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Despite achieving over 40% year-on-year growth in operating revenue in FY24, FS Life’s losses widened by 70% to Rs 17 crore. Its post-money valuation remains steady at Rs 370 crore ($42 million). With over $9.5 million raised to date, FS Life competes with other D2C fashion and jewellery startups like NEWME, FabAlley, Fashor, GIVA, and Palmonas.