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Indya and FabAlleyโ€™s parent High Street Essentials raises $6 Mn

EntrackrEntrackr ยท 1y ago
Indya and FabAlleyโ€™s parent High Street Essentials raises $6 Mn
Medial

High Street Essentials (HSE), the parent company of womenโ€™s fashion brands Indya and FabAlley, has raised Rs 50 crore ($6 million) in equity and debt round led by Sangita Jindal, Chairperson of JSW Foundation. The round also saw participation from family offices of SRF Group, Krishna Bodanapu of Cyient Technologies and Timmy Sarna from Pure Home + Living. Earlier to this round, HSE had raisedRs 40 crore from Stride Ventures in May 2022. This proceeds will be used to enable Indya to undertake strategic business expansion of its premium occasion wear range โ€œWeddings By Indyaโ€, the company said in a press release. Established in 2012 by Shivani Poddar and Tanvi Malik, High Street Essentials has two women-focused brands โ€“ Indya and FabAlley. Indya specializes in offering ethnic clothing and accessories for women, whereas FabAlley caters to womenโ€™s Western apparel and loungewear needs. Indya has plans to expand its business presence across the country with 10 new wedding stores in this financial year. Indya is currently retailed through 12 exclusive brand outlets in 8 cities, and 150 large format retail outlets, including Lifestyle, Shoppers Stop, Centro and Ethnicity. Its global retail footprint continues to expand with a second store in Malaysia with plans to also open outlets in the USA and South Africa within the next 18 months. However, its largest volumes come from its international direct-to-consumer ecommerce business spanning more than 43 countries. According to startup data intelligence platform TheKredible, High Street has raised Rs 180 crore ($21.6 million) so far (excluding rhe current round) and was valued at Rs 700 crore ($84 million). High Street Essentialsโ€™ revenue from operations increased 17.8% to Rs 185 crore in FY23 from Rs 157 crore in FY22. Losses for the company remained constant at Rs 45 crore in FY23.

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FabAlley and Indya-parent posts Rs 185 Cr revenue and Rs 45 Cr loss in FY23

EntrackrEntrackr ยท 1y ago
FabAlley and Indya-parent posts Rs 185 Cr revenue and Rs 45 Cr loss in FY23
Medial

High Street Essentials, the parent company of โ€œFabAlleyโ€ and โ€œIndyaโ€, witnessed sluggish growth during the previous fiscal year ending March 2023. However, the losses for the Noida-based company also were flat during the same period. High Street Essentialsโ€™ revenue from operations increased 17.8% to Rs 185 crore in FY23 from Rs 157 crore in FY22, its annual financial statements filed with the Registrar of Companies show. Established in 2012 by Shivani Poddar and Tanvi Malik, High Street Essentials has two women-focused brands โ€“ Indya and FabAlley. Indya specializes in offering ethnic clothing and accessories for women, whereas FabAlley caters to womenโ€™s Western apparel and loungewear needs. The company claims to have more than 30 stores across the country. The sale of apparel constituted 77% of the total operating revenue which increased 12.7% to Rs 142 crore in FY23. The rest of the income comes from agency commission which increased by 38.7% to Rs 43 crore in FY23. For the fashion brand, the cost of material consumed (procurement) formed 27% of the overall expenditure. This cost increased by 6.8% to Rs 63 crore in FY23. Its advertising cum selling cost saw a growth of 30.8% during the previous fiscal (FY23). Its employee benefit, legal cum professional, freight, and logistics pushed the overall expenditure to Rs 235 crore in FY23 from Rs 206 crore in FY22. Check TheKredible for the detailed expense breakup. Expenses Breakdown Total โ‚น 206 Cr https://thekredible.com/company/faballey/financials View Full Data To access complete data, visithttps://thekredible.com/company/faballey/financials Total โ‚น 235 Cr https://thekredible.com/company/faballey/financials View Full Data To access complete data, visithttps://thekredible.com/company/faballey/financials Cost of procurement Cost of procurement Employee benefit Employee benefit Advertisement and sales promotion Advertisement and sales promotion Selling and distribution Selling and distribution Freight Freight Others To check complete Expense Breakdown visit thekredible.com View full data The flat scale and cost did not affect its losses, which remained constant at Rs 45 crore in FY23. Its ROCE and EBITDA margin stood at -247% and -14.2%, respectively. On a unit level, it spent Rs 1.27 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -17% -14.2% Expense/โ‚น of Op Revenue โ‚น1.31 โ‚น1.27 ROCE -130% -247% High Street has raised Rs 180 crore so far and is valued at Rs 700 crore. According to the startup data intelligence platform TheKredible, Elevation Capital is the largest shareholder with 28.18% followed by India Quotient. Its co-founders Tanvi Malik and Shivani Poddar cumulatively command 37.18% of the company.

D2C brand Basil raises $2 Mn in pre-Series A led by Prime Venture Partners

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D2C brand Basil raises $2 Mn in pre-Series A led by Prime Venture Partners
Medial

Online multi-category kids essentials platform Basil has raised $2 million in a pre-Series A funding round led by Prime Venture Partners. Existing investors Appreciate Capital and IIMA Ventures also participated in the round. The new round comes after a gap of two years when Basil had raised Rs 3.6 crore in a seed funding round co-led by IIMA Ventures and Appreciate Capital in February 2024. The funds will be used to expand into new categories such as bags and water bottles, strengthen its supply chain, and hire across leadership and product teams. The brand is targeting Rs 100 crore in ARR by FY27. Founded in 2024 by Harini Rajagopalan and Mahesh Muraleedharan, Basil operates an online multi-category kids essentials platform. It started with bento lunch boxes and insulated food jars and has grown to serve over 1.5 lakh families across more than 20,000 pincodes in India. The firm currently reports an ARR of Rs 36 crore, a 5x growth within two years of launch. Basil follows an asset-light model with manufacturing partners across India, China and Southeast Asia. It also operates an in-house Consumer Lab that drives product design based on parent feedback and holds multiple industrial design patents.

Home decor brand Ritualistic raises $1 Mn

EntrackrEntrackr ยท 1y ago
Home decor brand Ritualistic raises $1 Mn
Medial

Snippets Home decor brand Ritualistic raises $1 Mn Home dรฉcor brand Ritualistic has raised $1 million in a mix of secondary and primary funding from Deep Bajaj and Mohit Bajaj. The fresh funds will be used to expand product lines, enhance distribution channels, and invest in marketing efforts, Ritualistic said in a press release. Co-founded in 2018 by Shashank Jain and Neha Jain, Ritualistic is a home dรฉcor brand rooted in Indian culture and traditions. From handcrafted wall plates to spiritual essentials, the brand offers a diverse range of products designed to elevate spaces and celebrate heritage. The Gurugram-based company offers a unique product range that includes wall plates, cultural dรฉcor, and ritual essentials. The brand aims to preserve Indian heritage while catering to the tastes of todayโ€™s consumers. Ritualistic aspires to celebrate Indian traditions through unique and meaningful products. The company plans to reach more homes and hearts and inspire people to rediscover the beauty of Indian craftsmanship. Ritualistic claims that it has already carved a niche in selling premium and unique home dรฉcor products. In a few years, the brand boasts a loyal customer base across over 250 major cities in India and several other countries. Ritualistic plans to explore collaborations with temples, museums, and cultural organizations to deepen its reach.

Nia.one raises $2.4 Mn in seed round from Elevar Equity

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Nia.one raises $2.4 Mn in seed round from Elevar Equity
Medial

Nia.one, a full-stack platform for gig and blue-collar workforce, has raised $2.4 million in seed funding from Elevar Equity. The proceeds will be used to expand the companyโ€™s Niadel hubs across major cities and employment corridors, combining jobs, housing, and daily essentials for gig workers under one integrated ecosystem. Founded in August 2024 by Sachin Chhabra and Lt. Col. Pushkar Raj, Nia.one operates a phygital model that connects migrant and gig workers to verified jobs, affordable housing, meals, mobility, and community services. The platform currently serves 3,000 workers across 50 cities and plans to scale to over 8,000 workers in the coming quarters. The hubs are located within one kilometer of large worksites in logistics, warehousing, and manufacturing zones. Jyotsna Krishnan, Managing Partner at Elevar Equity, said, โ€œNia.one focuses on gig workers as entrepreneurial households. Its integrated model improves both worker retention and enterprise performance.โ€ Nia.oneโ€™s architecture combines four elements, Flow (jobs), Studio (housing and essentials), Tribe (community), and Rafiki (AI assistant), creating a sustainable, capital-efficient system for Indiaโ€™s fast-growing gig economy.

Wooden Street raises $43 Mn in Series C round from Premji Invest

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Wooden Street raises $43 Mn in Series C round from Premji Invest
Medial

Wooden Street, a furniture and home decor brand, has raised Rs 354 crore (approximately $43 million) in its Series C round from Premji Invest. Before this, the company had raised $30 million led by Westbridge in April 2022 and the latest round takes the total funding to $78 million to date. According to the companyโ€™s co-founder Dinesh Pratap Singh, the proceeds will be used to fuel business expansion, scale retail footprint by opening new stores in tier-II and tier-III cities and enhancing the omni-channel presence. Besides funding, Premji Invest will support Wooden Street with strategic insights to help scale its operations. Founded in 2015, Wooden Street operates on a company-owned, company-operated (COCO) model and boasts a network of more than 100 experience stores nationwide. Operating across both online and offline channels, the company has 102 experience stores, over 20 warehouses, and a 15 lakh sq ft manufacturing facility spread across India. For the fiscal year ending in March 2024, Wooden Street reported more than Rs 260 crore in revenue while its losses stood at only Rs 10.9 crore.

Foodtech startup Mealawe raises $1 Mn in new round

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Foodtech startup Mealawe raises $1 Mn in new round
Medial

Foodtech startup Mealawe has raised $1 million in funding from a mix of Foreign Direct Investment (FDI), a network of Shark Tank founders, and angel investors associated with companies such as Goldman Sachs and Oracle. The new capital will be used to scale operations by expanding women-led kitchens, strengthening corporate cafeteria solutions, and deepening partnerships for organic ingredient sourcing. Founded by Rupesh Kumar, along with co-founders Pratap Haldar and Nikhil Jain, Mealawe began as a platform connecting home chefs with customers, providing nutritious, homemade-style meals. As it scales, Mealawe is integrating home chefs and women from the workforce into a structured kitchen model, creating economic opportunities while maintaining the essence of homemade food. To ensure high-quality, nutritious meals, Mealawe directly sources organic kitchen essentials such as bilona ghee, wood-pressed oils, and organic masalas by partnering with farmers, ensuring both better food quality and sustainable agricultural practices. Beyond meal delivery, Mealawe has developed a corporate cafeteria management platform that allows businesses to provide high-quality meals without operational complexities. For smaller companies that lack physical cafeteria spaces, Mealawe offers a virtual cafeteria solution, ensuring seamless meal access for employees. Since its launch in October 2022, Mealawe claims to have grown rapidly, delivering over 30,000 meals monthly. Currently operational in Pune, Bengaluru, Mumbai, and Kota, Mealawe is steadily building a nationwide presence. The firm plans expansion into 14 cities over the next 10-12 months, with a target of delivering 1 million meals per month.

Home Essentials raises Rs 70 Cr in pre-Series B led by 360 ONE Asset

EntrackrEntrackr ยท 15d ago
Home Essentials raises Rs 70 Cr in pre-Series B led by 360 ONE Asset
Medial

Snippets Home Essentials raises Rs 70 Cr in pre-Series B led by 360 ONE Asset Home Essentials, a D2C brand for home and kitchen essentials, has raised Rs 70 crore in a pre-Series B funding round led by 360 ONE Asset, with participation from existing investor India Quotient. The Gwalior-based company had previously secured $2.2 million in a seed funding round from India Quotient and others. The proceeds will be used to expand its omnichannel presence and deepen its product portfolio across kitchen and home improvement categories, Home Essentials said in a press release. Co-founded in 2024 by brothers Tanishq and Divyam Jain, Home Essentials is a digital-first home and kitchen brand offering a curated range of more than 1,000 products across storage, cookware, furniture, and decor. The brand positions itself around โ€œsmart living,โ€ combining high utility with modern aesthetics at accessible price points. Key products include kitchen storage containers, cookware, home organisation solutions, bathroom accessories, and decor. The company plans to strengthen the home and kitchen category through investments in offline expansion, supply chain capabilities, and product innovation. It aims to scale revenue to Rs 500 crore over the next three years and reach 5 million Indian households. Since inception, the company claims to have served over one million customers and maintained strong unit economics with a focus on profitability. It is also expanding its offline presence and plans to operate 20 stores by the end of this year across the country. Home Essentials may compete directly or indirectly with other brands in the segment such as Home Centre, Nestesia, and IKEA, among others.

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