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.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Mamaearth||Gurugram||18 million||-||Sequoia India||Fireside Ventures, Stellaris Venture Partners, Sharp Ventures||Consumer & Brands|
|Testbook||Mumbai||8.3 million||Series B||Iron Pillar||Matrix Partners India, Better Capital, AngelList, Vikas Choudhury||EdTech|
|Fusion Microfinance||New Delhi||69.6 million||-||Warburg Pincus, Creation Investments Capital Management Llc.||-||Financial Services|
|Rheo||Bengaluru||2 million||Seed||Lightspeed Venture Partners, Sequoia Surge||Gaurav Munjal, Roman Saini, Mahesh Narayanan, Phanindra Sama||E-Sports|
|Harappa Education||New Delhi||-||-||Lupa Systems||-||EdTech|
|Axio Biosolutions||Bengaluru||5 million||Series B1||Omidyar Network India||Accel, UC-RNT Fund, Chiratae Ventures||HealthTech|
|High Street Essentials (FabAlley)||Delhi||1.12 million||Debt||Trifecta Capital||-||Fashion|
|Byju's||Bengaluru||200 million (reported)||-||Tiger Global||-||EdTech|