Elevation Capital-Backed B2B Marketplace Fashinza Bags $30 Mn Funding

0
78

Fashinza, a B2B marketplace for the fashion industry, has raised $30 million in a funding round led by marquee investor Accel and Elevation Capital, among others. The round also saw participation from existing investors including Sequoia Capital India’s Surge, FJ Labs, and Matrix Partners India.The startup plans to use the funds to expand its footprint across new geographies and invest in technology to further enhance its platform.

Fashinza aims to leverage the latest advancements in AI and machine learning to provide its customers with real-time insights into the manufacturing process, enabling them to make better decisions and optimize their supply chain operations. Founded in 2019, Fashinza connects apparel brands and retailers with manufacturers and suppliers, providing end-to-end supply chain solutions through a single platform.

The company claims to have over 250 factories on its platform and has partnered with several leading brands in the fashion industry, including Calvin Klein, H&M, and Zara.The funding comes at a time when the global fashion industry is looking to increase efficiency and sustainability in its supply chain operations. Fashinza’s platform offers a transparent and sustainable sourcing solution, enabling brands to track the entire production process and ensuring compliance with ethical and environmental standards.Overall, the latest funding round is expected to help Fashinza accelerate its growth and expand its presence in the global fashion industry.