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Published
Jan 28, 2022
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Madbow Ventures raises $2 million, plans offline expansion

Published
Jan 28, 2022

Fashion e-commerce start-up Madbow Ventures Ltd has raised $2 million (Rs 15 crore) in a pre-series A funding led by Planify Capital.
 

Madbow Ventures raises $2 million, plans offline expansion - Alto Nivel


Madbox plans to utilise the funds to launch fashion brands across categories coupled with offline expansion and aims to have over 100 multi-brand outlets and 10 exclusive brand outlets by end of 2022.
 
Commenting on the investment, Rajesh Singla, CEO of Planify in a statement said, “We have seen great traction from the investors for Madbow Ventures Ltd. Investors today are looking for positive cash flow companies which can scale the business exponentially. Madbow fits this investment framework beautifully.”

Naveen Mahlawat, managing director CEO of Madbow Ventures Ltd added, “We are in constant talks to raise up to $5 million funds in the coming months and is expecting to float our Initial Public Offerings (IPO) in the next 24-36 months. There is a lot of demand for the latest fashion and with our in-house designing, we introduce innovative designs of garments and footwear to bring freshness in our portals at reasonable rates.”
 
Madbow has also partnered with leading marketplace players like Myntra, AJIO, Amazon Fashion among others to strengthen its presence in the fashion e-commerce space in India.

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