Venture Intelligence (TSJ Media Pvt. Ltd.)
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B2B marketplace for silk products ReshaMandi raises Rs.50-Cr from Stride Ventures
Bangalore based ReshaMandi, a business-to-business (B2B) marketplace for silk products, has raised INR 50 crore (USD 6.2 million) in a debt round from Stride Ventures. ReshaMandi would issue 5001 NCDs (non-convertible debentures) at an issue price of INR 1,00,000 each to raise the amount. Founded by Mayank Tiwari and Saurabh Kumar Agarwal, ReshaMandi offers crop advisory (along with hardware IoT devices) to silk farmers, raw materials along with design inputs to weavers and connects them to mills and retailers. Besides India, it has a presence in the Middle East, North Africa, and SouthEast Asia.
From the Venture Intelligence PE-VC Deal Database: Between Dec 20 and Jun 22, Reshamandi had raised over USD 46 M from Creation Investments, Alteria Capital, Innoven Capital, Omnivore Partners, Axilor Ventures and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.