Direct-to-consumer apparel brand French Crown, mobility-focused software-as-a-service platform Tummoc and men’s apparel maker Arjun Kilachand have secured early-stage funding, the companies said on Thursday.
French Crown
D2C startup French Crown has raised $1.04 million (Rs 8.6 crore) from revenue-based financier Velocity.
The apparel maker will use the fresh capital for developing new designs as well as improving market understanding.
Founded by Ilesh Ghevariya and Bhavdip Ghevariya, French Crown is a fast fashion brand that claims to launch 200 designs each week and has a presence in over 90 countries.
“With Velocity's strategic partnership, we have become a Rs 100 crore bootstrapped brand. This partnership has enabled us to invest in strategic marketing initiatives, resulting in brand visibility across the globe,” said Ilesh and Bhavidip, co-founders, French Crown.
Meanwhile, Velocity is a fintech startup focused on revenue-based financing for online businesses. It was launched in early 2020 by IIT Bombay graduates Abhiroop Medhekar, Atul Khichariya, and Saurav Swaroop.
In 2021, it raised 20 million (around Rs 148 crore) in a Series A funding round led by Peter Thiel’s Valar Ventures.
SaaS startup Tummoc has secured $1 million (Rs 8.2 crore) in a pre-Series A funding round from Inflection Point Ventures.
The funds will be used for hiring talent, development of technology and software, expansion of the system, marketing initiatives, expansion into tier II and III cities and administrative requirements.
Founded in 2020 by Hiranmay Mallick, Monalisha Thakur and Narayan Mishra, Tummoc is a SaaS platform that provides state transport authorities (STAs) with multi-modal connectivity solutions.
“The funds will be utilised for the implementation of the platform in Bengaluru and Delhi. Next, we plan to take this to 10 cities. Additionally, Tummoc will enable ITM (integrate transport management) for key state and city transit agencies to help them digitize their transit infrastructure," said Mallick.
Men’s apparel maker Arjun Kilachand has secured an undisclosed amount in a Series A funding round from Malabar Capital Advisors.
The fresh proceeds will be deployed to expand its operations, develop infrastructure, form strategic partnerships and diversify its product categories.
Led by Deevyesh Desai (managing director and chief executive officer) and Dhruv Mehta (director), Arjun Kilachand is a menswear brand.
Earlier, it raised funding from a host of ultra-high net worth individuals (HNIs) including Bahram Vakil (AZB and Partners) and Varunn Mody (Hind Composites), among others
The startup claims to have posted a three-fold rise in revenue from the previous quarter. It also plans to channel the funding towards expanding its back-end infrastructure, hiring talent and developing an omni-channel tech platform to cater to a global audience.
