Jun 13, 2018
Paragon Partners invests for sixth time in eShakti
Jun 13, 2018
The private equity firm Paragon Partners announced on June 12 that it has invested Rs 75 crore ($11 million) in the Chennai based womenswear brand for the sixth time.
As part of eShakti’s latest round of funding, a varied group of investors, both domestic and global, raised a total of Rs 800 crore for the brand. Paragon Partners routed its investment of Rs 75 crore through the Paragon Partners Growth Fund-I, according to a statement made by the firm.
“The investment from Paragon Partners is primarily needed for growth as we are building a multinational consumer brand with a global footprint,” eShakti’s Founder and CEO, B G Krishnan, said in a statement. “We are excited by the endorsement and opportunity that Paragon’s investment represents and we look forward to building on our history of strong growth based on a robust value proposition that gives us both scalability and a competitive advantage.”
Speaking from the side of Paragon Partners, the business’ Co-Founder and Senior Partner, Siddharth Parekh, said: “eShakti is one of the early movers in addressing an under-served need for make-to-order apparel for women in the western markets. With its disruptive operating model combined with superior quality of design, fabrics and speed of execution, eShakti has been able to build a strong and growing community of loyal customers in the United States.”
The brand is based in India but has expanded globally and has a presence in the US, Canada, and Australia with a design office located in New York. The brand has previously raised capital from marquee investors including IDG Ventures, IvyCap, and Infina Finance.
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