Fashinza to use funding for expansion in US, Middle East

Abhishek Sharma, Pawan Gupta, and Jamil Ahmad. — Supplied photo
Abhishek Sharma, Pawan Gupta, and Jamil Ahmad. — Supplied photo

Fashinza aims to be one of the biggest global supply chain and tech driven companies in the next five years.



by

A Staff Reporter

Published: Sat 4 Dec 2021, 8:02 AM

Fashion startup platform, Fashinza, which recently secured $20 million in series A VC funding with major investment from Abu Dhabi-based venture capital firm Disrupt AD, in addition to investments from VC partners like Accel Partners, Elevation Capital, Stride Ventures, Alteria Capital, and Tradecred is planning to use the funding to expand its presence and manufacturers’ base globally in the Middle East and US, said Abhishek Sharma, Co-founder and COO, Fashinza

Sharma said: “We also saw support from Anand S Ahuja (who is running the fashion brand ‘Bhane’ and is also the managing director of ‘Shahi Exports’) and Sonam Kapoor Ahuja (Bollywood actress) who are both very vocal and ardent supporters of sustainable fashion.”

Both Pawan Gupta, co-founder and CEO of Fashinza and Sharma had an affinity towards clothing, so launch of Fashinza was a natural step.

“We were both on a mission to create a sustainable and futuristic supply chains for fashion brands providing a more positive environment of workers. We first came up with this idea though when were on a road trip to Jaipur in 2019,” said Sharma.

“We saw a need for a versatile platform that was a one stop shop for all B2B fashion needs. We wanted to develop a platform that would improve sourcing experience for brands, allow MSMEs to scale while creating a safe and enjoyable working environment for all workers by providing transparency at every step of the way for our customers.”

Fashinza aims to be one of the biggest global supply chain and tech driven companies in the next five years. “We also aim to build an environmentally net positive supply chain at scale that does not incur any extra costs and we aim to do this by 2030,” said Sharma.

Sharma’s fashion paltform has an AI-led technology platform that automates everything from finding the right supplier to managing production across all stakeholders.

”The trend cycles continue to grow shorter every year which means that brands will no longer benefit from planning a range of six months ahead in the future. They’ll need to assess trends and source products in real-time, which is something Fashinza is not only equipped to support them with, it’s something we specialise in,” concludes Sharma.

— business@khaleejtimes.com


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