Total amount raised
$29.8 Millions
Latest funding date
05/01/2024
Location
FabAlley has successfully raised significant funding through multiple rounds, with the most recent being a Venture - Series Unknown round. The company has garnered support from 24 investors, including notable names like Krishna Bodanapu and Timmy Sarna.
Keep reading to explore the intricacies of FabAlley's fundraising journey and the investors backing this innovative platform.
What Is FabAlley?
FabAlley, founded in 2012 by Shivani Poddar and Tanvi Malik, is an online fashion store specializing in women's western apparel and loungewear. The company is headquartered in Noida, Uttar Pradesh, India.
Operating through its website, online marketplaces, and offline retail stores, FabAlley offers a wide range of products including dresses, tops, trousers, skirts, co-ord sets, loungewear, and accessories. The company employs between 101-250 people and provides worldwide shipping and order tracking services.
How Much Funding Has FabAlley Raised?
- Venture Round
- Amount Raised: ₹375M (approximately $6 million)
- Date: May 27, 2024
- Lead Investors: Sangita Jindal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growth initiatives of FabAlley through its parent company, High Street Essentials.
- Debt Financing
- Amount Raised: ₹125M
- Date: May 27, 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel Indya's expansion in the occasion wear and wedding market.
- Debt Financing
- Date: May 20, 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To mark HSE's entry into the premium occasion and wedding-wear market.
- Venture Round
- Amount Raised: ₹400M
- Date: May 20, 2022
- Lead Investors: Stride Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Indya's premium occasion-wear range "Weddings By Indya".
- Series D
- Amount Raised: ₹255M
- Date: May 19, 2021
- Lead Investors: Dominor Investment, Elevation Capital, India Quotient
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion plans.
- Series C
- Amount Raised: ₹207.5M
- Date: June 19, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's product offerings and market reach.
- Debt Financing
- Amount Raised: $1.1M
- Date: January 8, 2020
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and operational expenses.
- Venture Round
- Date: January 1, 2019
- Lead Investors: SenseAI Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in technology and expand the product line.
- Series B
- Amount Raised: ₹600M
- Date: December 27, 2018
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance market presence.
- Debt Financing
- Amount Raised: ₹50M
- Date: February 1, 2018
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business expansion and operational costs.
Total Amount Raised: $6 million
Current Valuation: Not publicly disclosed
Key Investors
- Sangita Jindal
- Details: Sangita Jindal is the Chairperson of JSW Foundation. She led the recent ₹50 crore funding round for High Street Essentials, the parent company of FabAlley.
- Investment Focus Areas: Fashion industry, heritage textile artistry.
- Notable Investments: Indya, Jade By Monica and Karishma for the Grassroot Artisans Project (GAP).
- Krishna Bodanapu
- Details: Krishna Bodanapu is associated with Cyient Technologies. He participated in the recent funding round for High Street Essentials.
- Investment Focus Areas: Technology and related sectors.
- Notable Investments: Not publicly disclosed.
- Timmy Sarna
- Details: Timmy Sarna is associated with Pure Home + Living. He participated in the recent funding round for High Street Essentials.
- Investment Focus Areas: Home and living sectors.
- Notable Investments: Not publicly disclosed.
- Elevation Capital
- Details: Elevation Capital is an investment firm focusing on early-stage and growth-stage companies. They are an existing investor in FabAlley.
- Investment Focus Areas: Early-stage and growth-stage companies.
- Notable Investments: Not publicly disclosed.
- India Quotient
- Details: India Quotient is an investment firm focusing on early-stage startups. They are an existing investor in FabAlley.
- Investment Focus Areas: Early-stage startups.
- Notable Investments: Not publicly disclosed.
What's Next for FabAlley?
FabAlley is poised to capitalize on the burgeoning premium occasion wear and wedding market, valued at $15 billion. With plans to open over 100 wedding stores across India and expand internationally to the USA and South Africa, the opportunities are vast. Strategic designer collaborations and a robust direct-to-consumer e-commerce business will be key growth drivers.
Future fundraising rounds are likely as FabAlley continues its aggressive expansion. The company may also explore strategic partnerships or acquisitions to strengthen its market presence, particularly in South India. However, challenges such as competition in the fragmented wedding-wear market and managing international expansion could pose hurdles.
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