Founded in 2019 by Pratik Gadia, Yarn Bazaar operates as a one-stop solution for all yarn-related requirements
The funding will help the startup strengthen its foundation and expand its operations by building a robust leadership team
Since its inception, The Yarn Bazaar platform has facilitated transactions worth over INR 370 Cr, with an average order value of INR 19 Lakh
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B2B marketplace startup The Yarn Bazaar has announced bagging $1.8 Mn in Pre-Series A round led by Rajiv Dadlani Group and Equanimity Ventures. The round also saw participation from some family offices and other investors including Arihant Patni, Ekta Kapoor (Balaji Films), Ritesh Malik (Innov8), Aakrit Vaish (Haptik), Sumeet Srivastava (Spocto), Miten Sampat (CRED), as well as industry stalwarts Anil Mansingka and Dr. Amit Lath (Sharda Group of Companies) among others.
Founded in 2019 by Pratik Gadia, Yarn Bazaar operates as a one-stop solution for all yarn-related requirements, including discovery, trading, financing, logistics, advisory, and market intelligence services.
By leveraging the proprietary processes and flexible financing options, the startup enables yarn sellers to expand their market reach, boost sales, and achieve higher margins, while buyers can effectively reduce raw material and procurement costs.
As per the startup, the funding will help strengthen its foundation and expand operations by building a robust leadership team. Further the funds will be used to extend market reach, enhance technological infrastructure, and leverage existing inbound opportunities to meet the growing demand.
Additionally, The Yarn Bazaar plans to invest further in improving its online presence and enhancing the overall user experience, enabling easier connections between suppliers and buyers and providing access to valuable resources and data.
The startup claims that it has already made significant strides in revolutionising the fragmented textile industry, which is valued at $200 Bn. The startup attributes the growth to meeting supply chain inefficiencies.
Since its inception, The Yarn Bazaar platform has facilitated transactions worth over INR 370 Cr, with an average order value of INR 19 Lakh.
Commenting on the investment, Gadia said, “The current round of funding we have received from the Rajiv Dadlani Group, Equanimity and all our other investors is a testament to their trust in our business model and future potential. We are committed to endeavouring continuously to improve our platform and offerings, thereby creating a favourable ecosystem for yarn buyers and sellers. Exciting opportunities lie ahead, and we are laser-focused on our journey towards becoming the go-to platform for high-quality yarn.”
According to Inc42’s State Of Indian Ecommerce Report Q2 2023, the Indian ecommerce industry is expected to reach $400 Bn by 2030.
In March this year, AI-based B2B marketplace platform Fashinza has secured $30 Mn in a fresh funding round, which seems to be a Series C round, from Mars Growth Capital and Liquidity Group.
In the same month, B2B marketplace OfBusiness launched its mobile app to onboard 3-4 lakh SMEs, traders, farmers and distributors.
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