Unitus Seed Fund has invested in e-tailoring service provider Urban Tailor, while high profile investors Jaspal Bindra and Parth Jindal have invested in sports healthcare startup HEAL Institute.
Unitus Seed Fund backs Urban Tailor
Early-stage investor Unitus Seed Fund has invested an undisclosed amount in e-tailoring service provider Urban Tailor, according to a Times of India report. B.S. Nagesh, former MD of Shoppers Stop, also participated in the round.
The Bengaluru-based company, which was started in 2015 by Vasudevan T, provides tailoring services through its network of aggregated tailoring units. It currently offers services across Bengaluru and claims to have over 20,000 customers. The platform plans to expand to three more cities by the end of this year.
“As a retailer, I see two trends while offline and online sales of garments continues to be on the rise, a big chunk of ready-made apparel doesn’t always fit the customer well. The market for ready to stitch fabric hasn’t dipped. There is a huge opportunity to become a branded service for tailoring and alterations,“ said Nagesh.
Jaspal Bindra, Parth Jindal invest in sports healthcare startup HEAL
A clutch of investors including former Standard Chartered ace banker Jaspal Bindra and Parth Jindal, son of JSW Group chairman Sajjan Jindal, have invested in HEAL Institute, a sports-focused healthcare startup, according to a report in The Economic Times.
Both the Bindra and Jindal have invested in his personal capacity.
The fresh round of fundraising may see the company raising as much as Rs 50 crore ($7.5 million). Founded in 2012, the firm plans to use the funds for its expansion across major metros.