Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
San Francisco-based low-cost apparel manufacturing platform, Sourceeasy has acquired an online manufacture and design service for plus-sized clothing, AbbeyPost. However, the amount of the deal is kept undisclosed. Both the companies were part of 500 Startups’ 9th batch.
AbbeyPost, founded by Cynthia Schames and Lex Mustafin in 2014, is a software-driven custom apparel that fits every woman’s shape and size. It is a platform for the creation of scalable, affordable and fast mass customization of apparel. It offers fully custom Made to Measure apparel, Made in the USA, at department store prices, delivered in 2 weeks or less.
The acquisition will help company to offer near-shore manufacturing to clothing brands using the “Made in USA” brand, build their own library of pre-fabricated pattern blocks and use off-the-shelf/pre-produced fabrics to shorten lead times.
Speaking on this move, Pranay Srinivasan, founders and CEO of Sourceeasy said, “We are poised to grow our revenues exponentially in the next 12-18 months and creating scalable, automated fit approval systems based on templates and standard blocks is critical to our scale. Abbeypost’s internal pattern and sampling systems will help us leapfrog our Template program ahead by 6-9 months.”
Founded in 2013 by Pranay Srinivasan and Chirag Chamoli, Sourceeasy offers a web-based platform for designers, ecommerce stores, brands to source and design apparel for their private labels through an offline network of manufactures. Clients can also request for samples, keep track of the orders, collaborate on designs, rate styles, choose styles from available fabric, rate both buyers and suppliers.
So far, the startup has raised around $1.8 Mn in three rounds from Aloke Bajpai, 500 Startups, Sean Percival, Pankaj Jain, Vijay Shekhar Sharma.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.