Tuesday, July 23, 2024

Fabriclore Raises $1.6M in Funding for Tech-Enabled Fabric Sourcing Platform

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Fabriclore, a Jaipur-based tech-enabled platform specializing in fabric sourcing for fashion businesses, has announced securing $1.6 million in funding. The investment round was led by Bengaluru’s PeerCapital and UAE’s Regal Fabrics.

Founded in 2016 by Vijay Sharma, Sandeep Sharma, and Anupam Arya, Fabriclore facilitates made-to-order fabric solutions including discovery, design, dyeing, printing, and quality inspection. The platform serves direct-to-consumer (D2C) fashion brands and multi-brand retailers, boasting a comprehensive catalogue developed by over 550 suppliers across India.

Fabriclore has established itself as a key player in India’s $20 billion fabric supply chain market. The startup operates a network of fabric processing units and a 10,000 square feet Fabric Experience Studio in Jaipur. This studio offers a tactile experience of various fabrics and their printing techniques, aiding fashion businesses in efficient sourcing decisions.

Ankur Pahwa, Managing Partner at PeerCapital, emphasized the significance of tech-enablement in transforming the B2B supply chain. He highlighted Fabriclore’s potential to innovate and impact the fabric and D2C industries positively.

CEO Vijay Sharma underscored Fabriclore’s competitive edge in streamlining complex fabric processing stages, significantly reducing delays and customer rejections. The company plans to develop software tools to further simplify fabric discovery, sourcing, production, and design management for fashion brands.

Fabriclore Raises $1.6M in Funding

With the recent funding infusion, Fabriclore aims to expand its footprint in key markets such as India, the Middle East, Europe, and the USA. The startup will focus on enhancing its technological infrastructure to improve operational efficiency and customer experience globally.

Raju Shroff, Managing Director of Regal Group, highlighted Fabriclore’s potential to bridge the gap in organized textile sourcing and processing, particularly in global markets like the Middle East and Europe.

Fabriclore has forged strategic alliances with leading fabric mills in India, offering a diverse portfolio of fabrics including Cotton, Viscose, Sustainable, and Polyester. The company ensures authenticity and traceability through direct partnerships with mills and yarn suppliers.

Looking ahead, Fabriclore aims to triple its monthly recurring revenue (MRR) within a year and supply 50 lakh meters of fabric annually to global fashion brands. The startup continues to innovate in the fabric sourcing space, poised for significant growth and impact in the fashion industry.

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