Indian fashion startup Fashinza to use $20mn to fuel expansion

By Arya M Nair, Intern Reporter
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Fashinza
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Fashinza, an India-based global apparel manufacturing startup, for Fashion Brands, planned to invest $20 million to expand its presence and manufacturers’ base globally in the Middle East and the US.

In August this year, the company secured the fund in series A venture capital (VC) funding with major investment from Abu Dhabi-based VC firm Disrupt AD, in addition to investments from VC partners like Accel Partners, Elevation Capital, Stride Ventures, Alteria Capital, and Tradecred.

The company aims to be one of the biggest global supply chain and tech-driven companies in the next five years and to build an environmentally net positive supply chain at a scale that does not incur any extra costs by 2030.

The company has an AI-powered technology platform that automates everything from finding the right supplier to managing production across all stakeholders. It provides end-to-end online ordering for brands, complete production tracking from the factory floor, low MOQs (minimum order quantity), and fast but ethical production.

Mr. Abhishek Sharma, Co-founder and COO and Mr. Pawan Gupta, co-founder and CEO of Fashinza said that “We saw a need for a versatile platform that was a one-stop shop for all B2B fashion needs. We wanted to develop a platform that would improve sourcing experience for brands, allow MSMEs to scale while creating a safe and enjoyable working environment for all workers by providing transparency at every step of the way for our customers.”

Fashinza is on a mission to create sustainable and futuristic supply chains for fashion brands while improving the lives of workers. With its mobile-based production control and visibility software, the company connects family-run small and mid-sized audited factories to the cloud.

”The trend cycles continue to grow shorter every year which means that brands will no longer benefit from planning a range of six months ahead in the future. They’ll need to assess trends and source products in real-time, which is something Fashinza is not only equipped to support them with, it’s something we specialize in,” added Mr. Sharma.

Related: Italian fashion brand Sandro Ferrone eyes entry into UAE market


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