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New Delhi [India], January 21 (ANI/PNN): Madbow Ventures Ltd., one of the leading names in the fashion industry, co-founded by Naveen Mahlawat in August 2016, has raised $2 million in their Series A funding round led by Planify Capital, the strategic investment banker for Madbow.
Key investors that contributed towards the Series A funding are Junita Majumder, owner at JK Future; Bhumika Srivastava, HR partner at Airbnb; Sanjay Damani, accredited investor from Mumbai; Jagannath MS, angel investor from Bangalore; Pranab Dutta, angel investor from Narayana, Delhi; Bhagya Lakshmi Inti, ace investor from Medchal, Telangana; and others which helped Madbow reach a post-funding valuation of Rs.100 Cr, boosting its share price to Rs.550 per share.
Madbow is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. It is a platform for brands where it creates brands across the categories and moves them to scale them at a fast pace with the help of technology, marketing, and years of experience in operations to make successful D2C brands.
Since their incorporation in 2016, they have invested both capital and creative energy towards designing a differentiated journey of brand discovery for consumers. They have a diverse portfolio of lifestyle products like footwear, western wear, ethnic, and other fashion products, including their own brand products manufactured by them. As a result, they have established themselves not only as a lifestyle retail platform but also as a popular consumer brand selling on their niche websites as well as in the marketplace.
Madbow has a few in-house brands catering to lifestyle and fashion like stalkbae.com, streetstylestalk.com, slaydeal.com, lovedamoda, and SlayXO.com, which are also available on mobile applications. Style stalk has 6 lakh downloads, Slaydeal has 32 thousand downloads, and stalk bae has 11 thousand downloads.All these websites cater to different customer segments, like one that deals particularly with the mass segment, whereas StalkBae is more toward premium products.
The brand has a base of around 12,00,000+ satisfied customers in a market of more than 25K serviceable PIN codes throughout India. MadBow currently owns an export license and caters to international borders like Europe and Africa. Madbow's private label brands have had huge success on social media and have amassed more than 1 million followers on social media.
Naveen Mahlawat, CEO of Madbow Ventures limited, stated, "The funds raised will be used for the company's expansionary purposes as the company is planning to launch fashion brands and labels in kids, ethnic, high fashion, cosmetics, and general merchandising, as well as bring all the fashion and lifestyle requirements under one roof. After experiencing amazing responses from various events and exhibitions, we are also planning for 100+ MBO stores and 10 EBOs by the end of 2022.
Madbow Ventures Ltd eyes Rs 100 cr Revenue in Next 18-24 Months. Recently Madbow has done strategic tie-ups with leading marketplace players like Myntra, AJIO, Amazon Fashion etc., and provided curated designs after discussing with their fashion teams.
Planify Capital's CEO, Rajesh Singla, commented, "This funding round will be one of the stepping stones towards the success of Madbow Ventures as a fashion brand. The company looks promising with positive cash flows since inception, scaling at 100% every year. They have a core female and customer-centric approach which would help them scale.".
Planify is a fintech startup that focuses on building India's first marketplace for private equity. Planify acts as an investment banking firm for start-ups and private companies to help them raise funds through its various channels. Planify also offers stocks that are not yet listed to investors (Angel, Accredited Investors, VC, AIF, and PE Funds) so that the exchange of hands can become easy in unlisted companies on their own platform.
Website link: (www.planify.in)
This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)
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