FableStreet raises seed funding from Fireside Ventures, others

FableStreet, which sells premium workwear for women, has raised an undisclosed sum in seed funding from a clutch of angel investors including Kanwaljit Singh, MD Fireside Ventures and former MD Helion Ventures, Harmeet Bajaj ,Fashion Multipreneur, more than 25 years in International and Domestic Fashion Industry, Pameela P , Sr. Director at Unilever.

Founded in 2016, FableStreet , offers premium workwear for women, tailor-fitted for women by taking just 3 body measurements, under its own private label under categories such as tops, shirts, pants and skirts, and belts in a price range of Rs 1,700 to Rs 3,500.

The company will soon expand its product categories, but will remain focused on the premium women workwear segment.

Ayushi Gudwani, founder and CEO of FableStreet, said that the firm will use the funds for scaling up operations and expanding the team. Gudwani, is an Ex-McKinsey Consultant and IIM Calcutta alumnus, who never found quality work-wear in India. The firm works with vision to make lives of professional women simple and easy , added Gudwani.

Investors also think that the start-up has a unique value proposition and is already seeing repeat purchases.

The company will soon pilot a concept store model called FS Studio, which will act as an offline touch-and-feel experience centre for its customers. Besides, it has plans to start shipping its products beyond India. Entrackr queries to FableStreet remains unanswered till publishing this report.

In the online fashion segment, Fabulyst Pvt. Ltd, which operates an artificial intelligence-based platform emulating a personal stylist, raised Rs 1.4 crore ($216,000) in seed funding from iB Hubs, in June.

Today in an another development, Peer-to-peer fashion marketplace Elanic acqui-hired e-commerce platform SecondCry. Zapyle and StylFlip are other two companies operating in the same space.