Fabric Sourcing Platform Fabriclore Bags Funding From PeerCapital, Others

Fabric sourcing platform Fabriclore has raised INR 13.1 Cr (around $1.6 Mn) in  a seed funding round co-led by PeerCapital and Regal Group.

The round also saw participation from Fluid Ventures, Matrix Partners India, DeVC and Bulleon Ventures.

The Jaipur-based startup plans to use the fresh capital to scale up its tech stacks, streamline operations, boost customer experience and expanding its marketing operations across India and overseas, including Europe, the US and the Middle East.

Founded by Vijay Sharma, Sandeep Sharma and Anupam D Arya in 2016, Fabriclore provides made to order fabric solutions, including designing, dyeing and printing of fabrics, all at a single stop.

The startup claims to have developed an in-house automation and management platform to streamline multiple vendors, raw material sourcing, processing and quality checks.

It competes against the likes of Fabric Root, Fabrifry and Fabmynta among others. 

“Our key differentiator is streamlining complex multi-stage fabric processing that includes dyeing, screen printing, digital printing, and block printing techniques. By implementing tech-enabled processes, the company has substantially reduced delays by 20% and customer rejections by 33%, setting a new benchmark in the industry,” said Vijay Sharma.

 Since its B2B pivot, it claims to have onboarded more than 200 private labels, primarily from India and the Middle East. 

Last month B2B apparel sourcing and manufacturing startup ZYOD raised INR 150.2 Cr (around $18 Mn) in a Series A funding round led by RTP Global. 

Meanwhile, the global B2B ecommerce market size was valued at $6.64 Tn in 2020 and is expected to grow at a compound annual growth rate of 18.7% from 2021 to 2028, according to a report by Grand View Research.

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