The Yarn Bazaar, an online B2B marketplace, secured Rs 15 crore in a pre-Series A investment backed by Rajiv Dadlani Group and Equanimity Ventures.
Family Offices of Arihant Patni, Ekta Kapoor of Balaji Films, Ritesh Malik of Innov8, Aakrit Vaish of Haptik, and Sumeet Srivastava of Spocto were among the additional investors who took part in the round. Along with textile industry veterans Anil Mansingka and Dr. Amit Lath, the Sharda Group of Companies, Nikunj Bagdia of Ken Enterprises, and Vineet Garg of Shri Ram Sarup Garg Cotton Mills, Cred’s Miten Sampat also took part in the round, as per reported by ET Retail.
Pratik Gadia, founder and CEO of the company said, “We are committed to endeavouring continuously to improve our platform and offerings, thereby creating a favourable ecosystem for yarn buyers and sellers.”
This funding will help the company expand operations, market reach, and technology. It also stated to invest in its online presence and user experience.
Peyush Bansal, Co-Founder & CEO, Lenskart; Ashneer Grover, formerly Founder, BharatPe; Anupam Mittal, Founder & CEO, Shaadi.Com; and Aman Gupta, Co-Founder and CMO, boAt, having already invested Rs 1 crore in funding during the 1st season of Shark Tank India.
About The Yarn Bazaar
The Yarn Bazaar is a business-to-business (B2B) platform in the textile industry that offers purchasing, selling, and logistics services via its website and mobile applications.