Fashinza, AI-driven B2B marketplace, has raised $100 million in a Series B round led by Prosus Ventures (formerly Naspers Ventures) and Westbridge, along with participation from existing investors Accel, Elevation, and DisruptAD.
Fashinza provides supply chain for fashion brands and retailers. It will utilize the VC funding and debt towards creating a sustainable supply chain for the global fashion industry and in expanding the company’s presence globally.
This includes monetising fintech offerings, expanding into raw material procurement, helping Indian SME apparel manufacturers with supply chain financing, creating a sustainable supply chain by 2030 and Industry 4.0 solutions for SMB manufacturers.
“We are excited to expand our global presence and offer fast and sustainable tech-based supply chain solutions — especially to our customers in North America,” said Pawan Gupta, CEO and Co-founder of Fashinza.
Fashinza said its suppliers experienced a 200 percent increase in earnings in 2021 from increased capacity utilization while its customers reported 25 percent reduction of costs in inventory and 20 percent increase in topline with faster turn-around time and lower minimums.
Fashinza has over 250 manufacturers in India, Bangladesh, China, and Vietnam that currently serves more than 200 brands across six countries.
