VC Fund Investments
Handicraft & apparel seller Thevasa raises seed funding from MVP, others
Gurugram-based Thevasa, a design-led omnichannel handcrafted homeware & apparel startup, has raised its first round of external investment led by Singapore-based venture capital fund, M Venture Partners (MVP). The funding also saw participation from over 35 angels and founders from the D2C space including Dhyanesh Shah (co-founder, Mosaic Wellness), Amit Lakhotia (founder, Park+), Yogesh Chaudhary, (owner, Jaipur Rugs), Amanpreet Bajaj (GM, Airbnb India), Bala Sarda (founder, Vahdam India), Hitesh Dhingra, (founder, The Man Company), Ashish Goyal and Akshay Mehrotra (founders of Early Salary), Ananya Tripathi (CEO of WhiteHat Jr), and Gunjan Shukla (CFO, OLX Autos). Thevasa, founded by Himanshu Wardhan, promotes Indian handicrafts and apparel. The brand collaborates with craftspersons across India, experimenting with traditional design methods and amalgamating contemporary aesthetics and forms to make everyday wear. The new funds raised will be used to collaborate with artisans to develop new fashion and home decor products, for brand building, to scale operations and expand distribution channels. It is looking to add more than 100 exclusive business outlets (EBOs) and invest in its online platform.
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