Paragon Partners invests for sixth time in eShakti

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.

Paragon Partners announced on June 12 that it has invested Rs 75 crore ($11 million) in eShakti - eShakti- Facebook

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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