FableStreet, premium work wear brand, on Monday raised ₹21 crores in a Series A round, led by Fireside Ventures. Other investors who participated in their personal capacity included Pradeep Parameswaran, President for Uber India and South Asia, Dilip Khandelwal, Managing Director and head of Technology of Deutsche Bank and Suhail Sameer, CEO at RP-Sanjiv Goenka Group.
According to the company, the funds will be utilized for market expansion including building an offline presence, adding product categories and hiring senior professionals who will partner in growth and brand building. As a tech-enabled brand, FableStreet also plans to invest in Artificial Intelligence and machine learning to build a customer recommendation engine, strengthen product development and set up a tech-enabled efficient supply chain.
