Fable Street Lifestyle raises Rs 50 crore from Fireside Ventures, others
Direct-to-consumer firm Fable Street Lifestyle Solutions Pvt Ltd has raised Rs 50 crore ($6.3 million) in a pre-series B funding round led by its existing investor, Fireside Ventures.
Investors Ghazal Alagh, Mehul Agarwal, Vikram Chopra, Malika Sadani, and Ruchi Kalra also participated in the funding round.
The company will utilise the funds to scale its existing brands, improve supply chain technology, offline expansion, and brand acquisitions.
Commenting on the investment, Dipanjan Basu, partner at Fireside Ventures in a statement said, “We have seen the company scale despite covid and with capital efficiency. We have invested in them again with the belief that they are set to change the landscape of the fashion industry in India."
Ayushi Gudwani, founder Fable Street added, “We have built a capital efficient and profitable business and now plan to use this money to scale our supply chain technology, build a team and enter offline retail as well.”
Founded in 2016 by Ayushi Gudwani, Fable Street which began as a premium work-wear brand has gone on to become a house of brands with FS Life, Fablestreet, Marigold, and Mikoto.
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