Fashion and apparel business-to-business marketplace Showroom B2B on Wednesday said it has secured seed funding of $1.35 million (around Rs 11 crore) in a round co-led by Strive VC and Gemba Capital.
The round also saw participation from other investors including Titan Capital, Panthera Peak Capital, PointOne Capital, Bharat Founders Fund and Relentless VC, among others.
The startup plans to use the fresh funds to roll out new stores as well as to fortify its retailers and manufacturers network and technology stack.
Showroom B2B was established by Abhishek Dua and Shubham Gupta in 2021. It claims to be India’s first phygital apparel managed-marketplace which allows retailers to visit its centres to ‘touch and feel’ the products, solving for the discovery of non-branded apparel makers in the country.
“The trust and confidence of the investors during these turbulent times clearly validate the work we are doing…with this current round also, the focus is razor-sharp to expand, execute and excel,” said Dua.
“Showroom B2B is organizing the long-tailed apparel supply chain in India with a simple promise to provide a broad selection of apparel to retailers at competitive prices compared to unorganized channels,” said Siddharth Verma, principal, Strive VC.
The fashion and apparel space has been gaining traction for quite some time now.
In November last year, TMRW, an Aditya Birla Group venture and a wholly-owned unit of Aditya Birla Fashion Retail Ltd (ABRFL), announced investments with eight digital-first lifestyle brands foraying into casual wear, kid’s wear and western wear market.
In August, men’s apparel brand XYXX Apparels Pvt Ltd raised Rs 90 crore as a part of its Series B funding round led by Singularity Growth Opportunities Fund.