Showroom B2B raises $6.5 Mn in funding led by Jungle Ventures
Showroom B2B, a B2B marketplace for unbranded clothing, announced that it had raised $6.5 million in a pre-Series A round of fundraising, which was headed by Jungle Ventures. Other new investors, Accion Venture Lab, Saison Capital, and ICMG Partners participated in the round. Along with debt partners Alteria Capital and Stride Ventures, existing funders included Strive, Gemba Capital, Titan Capital, and others.
Showroom B2B is an asset-light business strategy to give shops access to a larger selection of unbranded clothing in their neighbourhood. With more than 3,000 merchants and more than 500 garment manufacturers as partners, it runs an app-based ordering platform with doorstep deliveries.
The most recent round of funding would enable the company to extend its experience shop concept throughout Tier II and III Indian markets. For fashion retailers and wholesalers, these stores make it easier for them to get garment samples and catalogues. Showroom B2B will also develop its private branding capabilities and offer luxury and reasonably priced clothing to merchants in Tier II and below cities.
Vishesh Sharma, Vice President for India Investments, the wholesale market for unbranded clothing in India is expected to increase from $50 billion to $80 billion over the next five years. We intend to expand the pool of suppliers we use for our own labels. We already source from Bangladesh for a few of our private labels. Abhishek Dua, Co-Founder and CEO of Showroom B2B, "These are the products where the marginal gain is significantly better compared to the regular marketplace".
Abhishek Dua and Shubham Gupta, both graduates of IIM Lucknow, created Showroom B2B in 2020. The two cofounded their first company together, which produced eco-friendly particle wood boards for the B2B furniture market. Showroom B2B currently runs three experience storefronts in various locations that let fashion retailers check manufacturing samples before placing larger orders. In November, the business intends to open experience centres in places like Rajasthan and West Bengal.
Showroom B2B is an asset-light business strategy to give shops access to a larger selection of unbranded clothing in their neighbourhood. With more than 3,000 merchants and more than 500 garment manufacturers as partners, it runs an app-based ordering platform with doorstep deliveries.
The most recent round of funding would enable the company to extend its experience shop concept throughout Tier II and III Indian markets. For fashion retailers and wholesalers, these stores make it easier for them to get garment samples and catalogues. Showroom B2B will also develop its private branding capabilities and offer luxury and reasonably priced clothing to merchants in Tier II and below cities.
Vishesh Sharma, Vice President for India Investments, the wholesale market for unbranded clothing in India is expected to increase from $50 billion to $80 billion over the next five years. We intend to expand the pool of suppliers we use for our own labels. We already source from Bangladesh for a few of our private labels. Abhishek Dua, Co-Founder and CEO of Showroom B2B, "These are the products where the marginal gain is significantly better compared to the regular marketplace".
Abhishek Dua and Shubham Gupta, both graduates of IIM Lucknow, created Showroom B2B in 2020. The two cofounded their first company together, which produced eco-friendly particle wood boards for the B2B furniture market. Showroom B2B currently runs three experience storefronts in various locations that let fashion retailers check manufacturing samples before placing larger orders. In November, the business intends to open experience centres in places like Rajasthan and West Bengal.
