FabAlley’s parent raises INR 20 Cr funding from SAIF Partners and India Quotient

High Street Essentials, the parent company of FabAlley, Indya, Zyra, the e-commerce marketplaces dedicated to women's fashion, has raised funding

Featured image: High Street Essentials co-founders: Shivani Poddar (L) & Tanvi Malik (R); Credits: FabAlley.com


High Street Essentials, the parent company of FabAlley, Indya, Zyra, the e-commerce marketplaces dedicated to women’s fashion, has raised INR 20.75 crore (around $27 million) funding from its existing investors SAIF Partners and Inda Quotient with participation from Abhishek Dalmia, chairman of Renaissance Group and several other family offices.

The company has revealed that the fresh funds will be deployed towards the expansion of the e-commerce marketplaces, creating a subscription-based model, and catalogue curation with AI-based recommendations.

JOIN US TO STAY UPDATED ON YOUR FAVORITE MESSENGER APP!

WhatsApp
Telegram

Started by Tanvi Malik and Shivani Poddar, High Street Essentials is headquartered in Noida, India. The company has recently tapped into other fashion categories such as masks, loungewear, and formal keyboard-up dressing styles. Apart from the online marketplaces, the company also has over 30 exclusive brand outlets across India.

Interesting Read: Startup Glossary – 40+ Startup Terms Every Startup Founder & Entrepreneur Should Know

Commenting on the investment round, Mukul Arora, Partner at SAIF Partners, in a statement said,

“FY20 was a great year for HSE where we saw strong growth in both FabAlley and Indya while remaining profitable. Post reopening in June, we are already seeing healthy recovery across channels,”


As part of our ongoing support for startups and SMEs, LAFFAZ Media publishes feature and resource articles that may include references and links to external websites. These inclusions are selected at our editorial discretion to provide valuable information to our readers. LAFFAZ Media does not control, endorse, or assume responsibility for the content or practices of external websites. For more details, please refer to our Terms and Conditions.

Pradeep Singh
Pradeep Singh

Former interim CTO at LAFFAZ. A full-stack developer, possessing 6+ years of experience in working closely with tech startups in India and UAE.

Articles: 102