Total amount raised
$155.3 Million
Latest funding date
3/1/2023
Location
Fashinza has successfully raised $20 million in a Series-A round led by Accel Partners and Elevation Capital, marking a significant milestone in its funding journey. The platform is a tech-enabled manufacturing solution for the apparel industry, offering tools and services that streamline production and sourcing for fashion brands.
Keep reading to explore the intricacies of Fashinza's fundraising journey and the investors backing this innovative platform.
What Is Fashinza?
Fashinza is a tech-enabled manufacturing platform that streamlines the production process for fashion brands. The company operates as a B2B marketplace, addressing trend forecasting and sourcing needs for fashion retailers. It is located in New York, New York, United States, and has an employee count between 251-500.
Fashinza leverages AI and data science to connect brands with vetted suppliers, ensuring a fast and flexible supply chain. The platform emphasizes sustainability, compliance, and the empowerment of women in factories, offering tools for cost calculation, logistics, and real-time production tracking.
How Much Funding Has Fashinza Raised?
- Seed Round
- Amount Raised: USD 2,600,000
- Date: January 2021
- Lead Investors: Accel, Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial technology and market presence.
- Grant
- Amount Raised: USD 25,000
- Date: January 2021
- Lead Investors: Flipkart Leap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and innovation.
- Seed Round
- Amount Raised: Not disclosed
- Date: April 2020
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand market reach.
- Series A
- Amount Raised: USD 20,000,000
- Date: August 2021
- Lead Investors: Accel, Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology capabilities.
- Debt Financing
- Amount Raised: USD 2,700,000
- Date: December 2021
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and operational expenses.
- Series B
- Amount Raised: USD 60,000,000
- Date: May 2022
- Lead Investors: Prosus Ventures, WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance product offerings.
- Debt Financing
- Amount Raised: USD 40,000,000
- Date: May 2022
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational and expansion activities.
- Debt Financing
- Amount Raised: USD 30,000,000
- Date: March 2023
- Lead Investors: LIQUiDITY Group, Mars Growth Capital
- Valuation at Round: Estimated between USD 300-350 million
- Motivation Behind the Round: To transform into a multinational corporation with significant operations in the USA, the Middle East, and Europe.
Total Amount Raised: USD 155,325,000. Current Valuation: Estimated between USD 300-350 million.
Key Investors
- Mars Growth Capital
- Details: Mars Growth Capital is a venture debt fund that provides growth capital to technology companies. It is a subsidiary fund of Liquidity Group and handles the company’s South East Asia activity with its partner MUFG.
- Investment Focus Areas: Technology companies, growth-stage companies, South East Asia.
- Notable Investments: Not publicly disclosed.
- Liquidity Group
- Details: Liquidity Group is a financial technology company that offers growth capital to technology companies using its proprietary technology platform. Founded in 2018, it automates the entire debt lending cycle and is backed by top financial institutions, including Apollo and MUFG.
- Investment Focus Areas: Technology companies, mid-market, late-stage companies, global markets.
- Notable Investments: Not publicly disclosed.
- Prosus Ventures
- Details: Prosus Ventures is a global consumer internet group and one of the largest technology investors in the world. It focuses on building leading technology companies in high-growth markets.
- Investment Focus Areas: Consumer internet, technology companies, high-growth markets.
- Notable Investments: Not publicly disclosed.
- WestBridge Capital
- Details: WestBridge Capital is a private equity firm that invests in high-growth companies. It focuses on providing long-term capital to companies in various sectors.
- Investment Focus Areas: High-growth companies, various sectors.
- Notable Investments: Not publicly disclosed.
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that invests in early-stage startups. It has a strong track record of backing innovative companies across different sectors.
- Investment Focus Areas: Early-stage startups, various sectors.
- Notable Investments: Not publicly disclosed.
What's Next for Fashinza?
Fashinza is poised for significant growth as it expands into new markets, including the USA, Gulf, and Europe. Leveraging its AI-driven technology and robust platform, the company aims to connect SMEs directly to top fashion brands, enhancing efficiency and transparency in the supply chain. With over 200 brands and 250 factories already on board, the potential for growth is substantial.
Future fundraising opportunities appear promising, given the company's recent $30 million investment and its trajectory towards becoming a global player. This financial backing will likely attract further investments to support its ambitious expansion plans and technological advancements. However, Fashinza will need to navigate challenges such as intense competition and maintaining quality across diverse markets.
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