Newme to Raises $12 Million in Series B at $112 Million Valuation
- Newme secures $12 Million in Series B led by Accel, Fireside, and Point72 Ventures
- Valuation climbs 41% to $112M post-money
- Funding to expand fast-fashion footprint across online and offline channels
Women-focused fast fashion brand Newme has begun its Series B round with a fresh $12 million raise, pushing its valuation to $112 million. The funding is co-led by existing investors Accel India and Fireside Ventures, with new investor Point72 Ventures joining the cap table along with AUM Ventures, 2am Ventures, and others.
Newme last raised $18 million in Series A in July 2024. According to its filing with the Registrar of Companies, the board approved issuing 3,447 Series B CCPS at Rs 3,15,231 per share to close the new round.
Accel India and Fireside Ventures are each investing Rs 36.94 crore, while Point72 Ventures is contributing Rs 26.38 crore. The remaining amount comes from additional investors participating in the round.
A report analysis shows Newme’s valuation has risen 41%, from Rs 700 crore to Rs 988 crore ($112 million). Founded by Shivam Tripathi, Sumit Jasoria, Himanshu Chaudhary, and Vinod Naik, the Bengaluru-based startup targets Gen Z women through a mix of e-commerce and offline retail. Newme’s app has crossed 7 million downloads, and the brand operates 16 offline stores across major Indian cities, including Bengaluru, Mumbai, Delhi, Pune, Chandigarh, and Hyderabad.
With the latest funding, Fireside Ventures becomes the largest external shareholder with 19.27%, followed by Accel India at 17.06%. Point72 Ventures now holds 2.67%, while Newme’s co-founders collectively retain 31.45%.
Also Read: Whizzo Raises $11 Million in Series A at 3.5x Valuation Surge
For FY24, Newme reported Rs 48.28 crore in revenue and a loss of Rs 35.75 crore. Its FY25 numbers are yet to be released.
Fast fashion continues to attract strong investor interest, with brands like Slikk, Snitch, and KNOT also raising sizable rounds recently.
