PE Fund Investments
Fast fashion brand Libas raises Rs.150-Cr from ICICI Venture
Women’s fast fashion brand Libas has raised INR 150 crore (USD 18 million) in its maiden funding round from IAF Series 5, a fund managed by ICICI Venture.The 10-year-old venture founded by Sidhant Keshwani and Sunil Keshwani started out as a direct-to-consumer (D2C) online brand. Over the last 18 months, it has ventured into the offline space and opened around 18 retail outlets. In the next two years, it plans to expand its offline stores to 150 across various parts of the country.
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