Private Equity Fund Investments
Silk B2B startup Reshamandi raises $30-M
Bengaluru-based Reshamandi, a business-to-business marketplace focused on silk products, has raised $30 million, or about INR 225 crore, in Series A funding round - which includes a debt component - led by Creation Investments. The round saw participation from Omnivore Partners, 9 Unicorns, Venture Catalysts, Sandeep Singhal (co-founder of Nexus Ventures), and IndiaMART founder Brijesh Agarwal, among others. As many as four Venture Debt investors in the round included Northern Arc, Alteria Capital, Innoven Capital, and Stride Ventures. Reshamandi, which provides a full-stack digital ecosystem from farm to fashion, plans to expand its agricultural business in all major silk-producing states across India while also establishing itself as a leader in weaving clusters like Varanasi, Salem, Kanchipuram, Maheshwar, and Dharmavaram.
From the Venture Intelligence PE-VC Deals Database: In Dec-20 Reshamandi had raised close to INR 13 crores from Strive VC, Axilor Ventures and Omnivore Partners (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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