FS Life Raises INR 50 Crore In Pre-Series B Funding
The fund raised will be used to drastically scale all the brands and start or acquire new brands in strategically identified white spaces
FS Life, previously known as FableStreet, has raised INR 50 crore in a pre-Series B funding round led by Fireside Ventures. The round also saw participation from startup founders Ghazal Alagh (co-founder, MamaEarth), Mehul Agarwal and Vikram Chopra (co-founders, Cars 24), Malika Sadani (founder, The Moms Co.) Ruchi Kalra (co-founder, OfBusiness) among others. The fund raised will be used to drastically scale all the brands and start or acquire new brands in strategically identified white spaces.
Company handout
"We have built a capital efficient and profitable business. The operations fund itself and equity capital is only leveraged to build infrastructure and the team to scale. We plan on using this money to scale our supply chain technology; build a best-in-class team and enter offline retail. We have also used this opportunity to bring some amazing Founder-angel investors whose guidance in building large scale brands and internet businesses will be of great value to us," said Ayushi Gudwani, founder, FS Life.
FS Life has scaled 10 times in the past 2 years by revamping its product portfolio to address evolving consumer needs and the brand plans to hit over 1000 crore revenue run rate in the next 3 to 4 years, claimed by the company in a statement.
"We have seen FS Life scale 10 times despite Covid with unparalleled capital efficiency. We have re-invested in them with the belief that they are set to change the landscape of the fashion industry in India with their insights driven design innovation, efficient supply chain and best in class sizing for Indian women," said Dipanjan Basu, partner at Fireside Ventures.
Founded in 2016 as FableStreet, which is a premium western wear brand focussed on providing the best fits for the Indian women, it now has evolved into a multi-brand organisation with Mikoto, a sterling silver and semi-precious jewellery brand, which caters to women's need for high quality jewellery at affordable prices, and Marigold, a modern Indian wear brand reimagining traditional clothing for the woman of today.
