FASHOR secures $5M funding from Blume Ventures

D2C women’s apparel brand Fashor has raised $5 million from Blume Ventures. 

The funding will be used to boost FASHOR's omnichannel growth, build brand presence, and enhance its supply chain, said the company in a statement.

Founded by Vikram Kankaria and Priyanka Kankaria in 2017, FASHOR specialises in trendy Indian and indo-western clothing for women.

“This investment marks a significant milestone for our company, and we are delighted to welcome a pedigreed fund like Blume Ventures to our cap table. We are excited to leverage this partnership to drive our next phase of growth, with a continued focus on delivering exceptional value to our customers," said Vikram Kankaria, Co-founder and CEO of FASHOR.  

The funding will further enable the firm to expand its retail presence, with plans to open more than 100 brand stores in the coming years, the company said in a statement. 

Last week, FASHOR announced its partnership with Bollywood actress Sara Ali Khan as its inaugural brand ambassador, with a campaign titled "Dil se Indian."

“Priyanka and Vikram have instilled a strong product DNA in FASHOR, supported by a scalable supply chain, that enables them to offer price points untouched by national incumbents. While largely online, they are making strides into building an offline presence. We are excited to support them as they blend their passion for design and business to create a large and deeply loved brand,” said Apurva Dixit, AVP Investments at Blume Ventures.

In 2020, the Chennai-based brand raised $1 million in a Pre-Series A round, led by Sprout Venture Partners, IP Ventures, and Venture Catalysts, with additional contributions from several high-net-worth individuals (HNIs).

“At FASHOR, Vikram and Priyanka have created a strong brand addressing a whitespace in the masstige festive & occasion wear category. We look forward to partnering with them on the next phase of their journey, expanding the brand’s presence across offline channels and helping scale supply chains to support this growth,” said Sajith Pai, Partner at Blume Ventures.

Sprout Capital and Private Circleserved as the financial advisors for the transaction.