B2B Managed Marketplace The Yarn Bazaar Secures INR 15 Crore Funding As per the company, the funding will primarily be used to solidify its base, by building a strong senior leadership team, also expand its operations, by increasing its market reach, strengthening its technological infrastructure, and activating its existing strong inbound pipeline, in order to meet the growing demand
By Teena Jose •
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The Yarn Bazaar, a purpose-led online B2B managed marketplace, has raised INR 15 crore in their pre-Series A funding round. The investment was led by the Rajiv Dadlani Group and Equanimity Ventures and also saw participation from reputed Family Offices and HNI investors. As per the company, the funding will primarily be used to solidify its base, by building a strong senior leadership team, also expand its operations, by increasing its market reach, strengthening its technological infrastructure, and activating its existing strong inbound pipeline, in order to meet the growing demand.
"The current round of funding we have received from the Rajiv Dadlani Group, Equanimity and all our other investors is a testament to their trust in our business model and future potential. We are committed to endeavouring continuously to improve our platform and offerings, thereby creating a favourable ecosystem for yarn buyers and sellers. Exciting opportunities lie ahead, and we are laser-focused on our journey towards becoming the go-to platform for high-quality yarn," said Pratik Gadia, founder and CEO, The Yarn Bazaar.
In an official release, the company stated that The Yarn Bazaar will be investing further to enhance its online presence and improve the overall user experience, allowing suppliers and buyers to connect more easily, as well as access helpful resources and data. It also claimed that since its inception in 2019, The Yarn Bazaar is transforming the highly fragmented $200 billion textile industry, by solving for the broken supply chain and working capital constraints that has already completed over INR 370 crore worth of transactions, with an average order value of INR 19 lakh.
"We have tracked The Yarn Bazaar's impressive growth journey for a while. They have immense potential and are also well poised, with their unique business model and the potential of the large textile market, ripe for disruption, to be a leading brand, in the yarn and textile industry. Pratik and team have a strong pedigree, rich experience and have built a solid foundation in their niche space. We are very excited to partner as long-term investors, and support them in their journey," said Rajiv Dadlani, Family Office of the Rajiv Dadlani Group.
