B2B managed marketplace The Yarn Bazaar has raised Rs 15 crore in a pre-Series A round led by the Rajiv Dadlani Group and Equanimity Ventures.
The round has also witnessed participation from Family Offices of Arihant Patni, Ekta Kapoor of Balaji Films, Ritesh Malik of Innov8, Aakrit Vaish of Haptik, Sumeet Srivastava of Spocto. Cred’s Miten Sampat, also participated in the round, along with textile industry stalwarts Anil Mansingka and Dr Amit Lath, Sharda Group of Companies, Nikunj Bagdia of Ken Enterprises and Vineet Garg of Shri Ram Sarup Garg Cotton Mills.
The funding will primarily be used to solidify its senior leadership team, expand operations, and activating its existing strong inbound pipeline, The Yarn Bazaar said in a press release.
Founded in 2019 by Pratik Gadia, The Yarn Bazaar empowers users to access real-time yarn prices, valuable information, and crucial market trends. By leveraging the proprietary processes and flexible financing options, yarn sellers can expand their market reach, boost sales, and achieve higher margins, while buyers can effectively reduce raw material and procurement costs.
Since its inception in 2019, The Yarn Bazaar platform claims to have completed over Rs 370 crore worth of transactions, with an average order value of Rs 19 lakhs.
Going forward, the startup will be investing further to enhance its online presence and improve the overall user experience.
