<article>High Street Essentials Pvt Ltd, which owns women-centric fashion brands <a href="http://dealstreetasia.com/tag/faballey" target="_blank" rel="noopener">FabAlley</a> and Indya, has raised Rs 60 crore ($8.5 million) from venture capital firm <a href="http://dealstreetasia.com/tag/saif" target="_blank" rel="noopener">SAIF Partners</a>.</article>

High Street Essentials Pvt Ltd, which owns women-centric fashion brands <a href="http://dealstreetasia.com/tag/faballey" target="_blank" rel="noopener">FabAlley</a> and Indya, has raised Rs 60 crore ($8.5 million) from venture capital firm <a href="http://dealstreetasia.com/tag/saif" target="_blank" rel="noopener">SAIF Partners</a>.
According to an official statement, the Series B round of funding includes a partial secondary share sale by early backer Indian Angel Network.
This marks the third round of equity funding for the Noida-based startup, after its $2-million Series A funding from India Quotient in late 2016 and debt funding worth $784,000 from Trifecta Capital earlier this year.
Founded in 2012 by Shivani Poddar and Tanvi Malik, High Street Essentials plans to use the latest capital infusion in improving distribution, product expansion, brand-building efforts and strengthening the technology backbone.
“The capital infusion will help us scale our offline presence rapidly from 15 exclusive outlets and 120 shop-in-shops to 50 and 300 respectively by the end of FY20,&#8221; said co-founder Shivani Poddar.
&#8220;We will invest in new categories such as Athleisure and our plus size brand, Curve. We will also look at amplifying our brands’ voices through ATL and BTL marketing initiatives,&#8221; she added.
IndigoEdge was the sole financial advisor for the transaction.
In October, another fashion startup, Universal Sportsbiz Pvt. Ltd., raised $13.5 million in a Series E funding round led by existing investor Accel Partners. The Bengaluru-based company said it planned to use the funds to enhance its presence across its portfolio of fashion brands, including WROGN, a premier fashion brand inspired by Virat Kohli; Jacqueline Fernandez’s IMARA; and Ms.Taken, a western wear line launched in a tie-up with actress Kriti Sanon.
In June this year, fashion e-tailer eShakti, which focuses on the womenswear segment, raised $10 million from private equity firm Paragon Partners.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-inurture-faballey-trifecta-91649/" target="_blank" rel="noopener">FabAlley raises $78k venture debt from Trifecta Capital</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-dealbook-83-55350/" target="_blank" rel="noopener">FabAlley raises $2m led by India Quotient</a>

High Street Essentials Pvt Ltd, which owns women-centric fashion brands FabAlley and Indya, has raised $8.5 million from venture capital firm SAIF Partners.

Indian fashion brand FabAlley raises $8.5m from SAIF Partners

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Indian fashion brand FabAlley raises $8.5m from SAIF Partners

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