Showroom B2B raises $6.5 million in funding led by Jungle Ventures
Showroom B2B, a business-to-business platform for unbranded garments, on Wednesday said it has raised $6.5 million in a pre-Series A funding round led by Jungle Ventures.
The round saw participation from other new investors – Accion Venture Lab, Saison Capital and ICMG Partners. Existing backers included Strive, Gemba Capital and Titan Capital, and debt partners Alteria Capital and Stride Ventures.
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Offering CollegeCourseWebsiteNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitIndian School of BusinessISB Digital TransformationVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitShowroom B2B works with an asset-light business model offering retailers access to a broader inventory of unbranded garments within their local communities. It has partnered with over 500 garment manufacturers and 3,000 retailers and operates an app-based ordering system for doorstep deliveries.
The latest round of funding will help scale the company’s experience store model across Tier II and III markets in India, as per a statement. These stores facilitate access to garment samples and catalogues for fashion retailers and wholesalers.
Showroom B2B will also enhance its private labelling capabilities and bring premium and affordable fashion to retailers in Tier II and below cities, the statement added.
India’s unbranded garment wholesale market is set to surge from $50 billion to $80 billion in the next five years, Vishesh Sharma, Vice President, India investments, told ET.
“We are planning to strengthen our supplier base for our private labels. We already have some private labels that we source from Bangladesh. These are the products where the
