Fashion Startup LetsDressUp Bags Pre Series A Funding

SUMMARY

The round also saw participation from its existing investor Titan Capital

Founded by Drishti Anand and Aditya Balani in 2019, LetsDressUp aims to create an extensive range of outfits, ensuring every woman finds her perfect size

The startup will use the fresh capital to boost production, scaling up its AI design technology stack and team expansion

Women-focused D2C fashion startup LetsDressUp has raised INR 11 Cr ($1.3 Mn) in a Pre-Series A funding round from a clutch of investors, including GVFL Limited, Indian Angel Network and The Chennai Angels.

The round also saw participation from its existing investor Titan Capital.

The Gurugram-based startup will use the fresh capital to boost production, scaling up its AI design technology stack and team expansion.

Founded by Drishti Anand and Aditya Balani in 2019, LetsDressUp aims to create an extensive range of outfits, ensuring every woman finds her perfect size. They have a range of sizes between XS to 8XL. The startup claims to work on a zero waste inventory model where no waste is produced during the production.

“We are creating a win-win model at LDU. Our agile supply chain helps us cater to the growing need of consumers by providing them with fresh designs every week, without them being out of stock. This also empowers the manufacturers to earn more and better their lives. The zero dead inventory model helps us contribute in reducing the pollution caused by the fashion industry,” said Anand.

Managing director, GVFL Ltd, Kamal Bansal, said,“We see immense potential in LDUs approach to transform the fashion industry with their zero dead-inventory model and nimble supply chain”.

The startup claims to launch multiple new designs every month, in all sizes, with an AI supported inventory supply chain built in India.

It is also aiming for an annual recurring revenue of INR 100 Cr soon.

LetsDressUp competes with the likes of eShakti, WYO, Salt Attire and Freshmonk among others.

Many D2C fashion brands raised funding over the last few months.

For instance, earlier this month fashion brand The Pant Project raised INR 34.85 Cr (around $4.2 Mn) in a Series A funding round led by Sorin Investments.

Last month, D2C ethnic wear brand Libas bagged INR 150 Cr (around $18.2 Mn) in a strategic funding round from ICICI Ventures.

In the same month, menswear brand DaMENSCH also raised INR 21.62 Cr (about $2.5 Mn) in an extended Series B round.

According to Inc42 data, India’s overall ecommerce market is expected to reach a size of over $400 Bn by 2030. Of this, the fashion apparel and accessories segment is expected to account for $112 Bn as against over $23 Bn in 2023.