Charmeuse Technologies Pvt. Ltd, which operates the textile and apparel-focussed software-as-a-service (SaaS) firm VastraApp, has raised seed funding.
The company has raised capital from Vivek Khare’s Syndicate through investment platform LetsVenture, and from apparel manufacturer BlackBerrys, which is operated by Mohan Clothing Co. Pvt Ltd, VastraApp said in a statement.
However, the Ahmedabad-based firm did not disclose the amount it raised.
VastraApp, set up in 2018 by Vikash Rajpurohit, says it brings together all relevant data for textile and apparel manufacturers on to a single platform. It also allows for connecting stakeholders on an end-to-end basis and provides insights through data analytics.
The company says it is aiming to expand its reach to over 5,000 businesses across the country and become the business platform of choice for apparel manufacturers. It currently claims to have partnered with more than 500 ventures in 20 cities.
“We are looking to a connected textile world where all the manufacturing businesses and related stakeholders are connected via tech platform(s), which makes their life easy by improving efficiency, reducing costs and enhancing production,” Rajpurohit said.
Separately, Khare said he was confident of his investment because of the cost efficiencies offered by Vastra and its impact on smaller players in the ecosystem. Khare, who is a director of a strategy at LetsVenture, has invested in several other companies, including Happily Unmarried, Zomato and Jaypore.
Rajpurohit, meanwhile, is an alumnus of Gujarat University, and has worked across product development and design roles in spaces such as analytics, procurement and retail. Companies that he has worked with include CricHeroes.
Deals in the SaaS segment
Earlier this week, VCCircle reported that sales automation startup Bizom had raised funding from a new and existing investor. Bizom is backed by SIDBI Venture Capital Ltd, a wholly-owned arm of the Small Industries Development Bank of India.
Last month, the business travel-focussed Itilite Technologies Pvt. Ltd raised $13 million (Rs 99.45 crore) in a Series B funding round led by new investor Greenoaks Capital and existing backer Dubai-based Vy Capital.
Also last month, Aavenir Software Pvt. Ltd, a source-to-pay solutions provider raised around Rs 15.22 crore in a seed funding round from Accel India. The startup offers contract lifecycle management and procurement management solutions.
