The Yarn Bazaar, a virtual marketplace for yarn-related needs, has raised ₹ 15 crore in a pre-series A round. The investment was led by Rajiv Dadlini group and Equanimity Ventures.
A press release said the funds will be used to strengthen its leadership team, expand operations and build its technology infrastructure. During the first season of Shark Tank India, it secured ₹1 crore funding from prominent entrepreneurs and investors. Since its inception in 2018, the Yarn Bazaar platform has completed transactions worth ₹370 crore and all of them involved 100% advance payments.
According to Pratik Gadia, founder and CEO of Yarn Bazaar, the platform has tie-ups with three NBFCs to provide financial support to the textile mills.
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