The Gen Z-focused fashion brand Newme secured INR 45 crore (about $5.4 million) in seed finance led by Fireside Ventures. AUM Ventures, 2AM Ventures, and Allin Capital also participated in the round.
“With this new round of capital, we are going to enhance our supply chain and scale-up the manufacturing in the country, go from two to 20 cities in our offline play with 1.5 lakh square feet of space, and build a stronger technology team over the course of the coming 12 months,” Newme founder and CEO Sumit Jasoria told ET.
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With three stores in Bengaluru and Mumbai, as well as a separate online platform and mobile app, Newme established an omnichannel footprint.
Newme is an enterprise that embraces variety and uniqueness, allowing Generation Z members to express themselves through the most recent fashion trends available to everyone at a reasonable price.
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About Newme
Within the year 2022, Sumit Jasoria, Shivam Tripathi, Vinod Naik, and Himanshu Chaudhary established Newme.
This fashion firm operates in real-time and caters to the needs of Generation Z in India and South East Asia. It provides women with a variety of trendy clothing options, such as tops and bottoms.
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