FASHOR, a fashion brand, announced a fundraise of $5 million from Blume Ventures. The company states that this investment will be utilised for omni-channel expansion, brand building and strengthening its supply chain.
“This investment marks a significant milestone for our Company, and we are delighted to welcome a pedigreed fund like Blume Ventures to our cap table. We are excited to leverage this partnership to drive our next phase of growth, with a continued focus on delivering exceptional value to our customers.” Vikram Kankaria, co-founder and CEO, FASHOR, said.
From what is understood, the funding will go towards the company’s plan of opening 100 exclusive stores. Reportedly, Sprout Capital and Private Circle acted as the financial advisors on this transaction. Early investors in the company also got an exit, making over 500% return, stated FASHOR.
“At FASHOR, Vikram and Priyanka have created a strong brand addressing a whitespace in the masstige festive & occasion wear category. We look forward to partnering with them on the next phase of their journey, expanding the brand’s presence across offline channels and helping scale supply chains to support this growth.” Sajith Pai, partner, Blume Ventures, commented.