India Deal Monitor: Trifecta backs FabAlley parent and more updates

Delhi-based High Street Essentials (HSE), which owns women’s fashion brands FabAlley and Indya, has raised about $1.12 million (Rs 8 crore) in venture debt funding from Trifecta Capital.

This is the second round of debt infusion by Trifecta into the company, per a statement. HSE first raised venture debt round of Rs 5 crore from the fund in January 2018. It raised Rs 60 crore in Series B funding from SAIF Partners in December 2018.

The company plans to deploy the fresh round of funding to further fuel the offline expansion of its brands.

Founded in 2012 by Shivani Poddar and Tanvi Malik, HSE’s brands currently retail through their websites, horizontal online market places, large format chains such as Lifestyle and Central, along with more than 30 exclusive brand outlets across the country. During FY20, HSE has scaled up its retail footprint with 10 new Indya stores and 5 FabAlley stores, along with expanding both brands to over 350 shop-in-shops across the country.

“As we scale both our offline and online presence, while incubating new offerings and brands in complementary spaces, it is imperative that we upgrade our infrastructure and working capital simultaneously. In the next 12-18 months, we plan to grow our retail presence by increasing our exclusive brand stores’ count to 50 and doubling our shop-in-shops to more than 650,” the founders said.

INDIA DEAL MONITOR

Here are some of the venture capital transactions in India from January 7-January 9.

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
MamaearthGurugram18 million-Sequoia IndiaFireside Ventures, Stellaris Venture Partners, Sharp VenturesConsumer & Brands
TestbookMumbai8.3 millionSeries BIron PillarMatrix Partners India, Better Capital, AngelList, Vikas ChoudhuryEdTech
Fusion MicrofinanceNew Delhi69.6 million-Warburg Pincus, Creation Investments Capital Management Llc.-Financial Services
RheoBengaluru2 millionSeedLightspeed Venture Partners, Sequoia SurgeGaurav Munjal, Roman Saini, Mahesh Narayanan, Phanindra SamaE-Sports
Harappa EducationNew Delhi--Lupa Systems-EdTech
Axio BiosolutionsBengaluru5 millionSeries B1Omidyar Network IndiaAccel, UC-RNT Fund, Chiratae VenturesHealthTech
High Street Essentials (FabAlley)Delhi1.12 millionDebtTrifecta Capital-Fashion
Byju'sBengaluru200 million (reported)-Tiger Global-EdTech

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.