Showroom B2B, a supply chain platform in the fashion and apparel sector, is in talks to raise $6-7 million in a new round from new and existing backers, two sources told Entrackr. This will be the second funding for the Noida-based startup this year.
“Showroom B2B is in mid-stage talks to raise at least $6-7 million in a new funding round led by Jungle Ventures. Existing investors will also double down their stakes,” said one of the sources requesting anonymity. “The firm was looking for a larger round but had to settle with this given the current market conditions.”
In January, the startup scooped up $1.35 million in seed funding from Strive VC, Gemba Capital, Titan Capital, Panthera Peak Capital, and others. Previously, it raised $180,000 in an angel round in 2021.
According to sources, the firm will expand its operations in newer cities in India and Bangladesh.
Queries sent to Showroom B2B and Jungle Ventures on Tuesday did not elicit a response. We Will update the story in case they respond.
Started by Abhishek Dua and Shubham Gupta in 2021, Showroom B2B combines digital and physical markets to offer a unique proposition to manufacturers and retailers. It covers major apparel fashion categories like men’s, women’s, and children’s wear.
The company provides a broad selection of apparel to retailers at competitive prices compared to unorganised channels. As per the company, it assists them in revenue generation and growing their business.
In May, Singapore-based Jungle Ventures announced a $600 million fund for new and follow-up investments in its portfolio companies. Before this, it has backed a bunch of B2B startups such as Moglix, CityMall and NirogStreet. Its portfolio includes Kredivo, Moglix, Livspace, Builder.ai, Atomberg, and most recently ice cream and quick-service restaurant brand NIC.
