Business-to-consumer firm Fable Street Lifestyle Solutions Pvt Ltd has been boosted by Rs 50 crore in a pre-series B funding round led by its existing investor, Fireside Ventures.
Startup founders Ghazal Alagh, co-founder of MamaEarth; Mehul Agarwal & Vikram Chopra, co-founders of Cars24; Malika Sadani, founder of The Moms Co; and Ruchi Kalra, co-founder of OfBusiness also participated in the round.
This is the company’s third raise since its inception in 2016.
In 2019, it had raised about ₹21 crores in a Pre-Series A round from Fireside Ventures and others. Before that, it had raised around ₹3 crores from friends and family.
The company has now broadened its focus to curating lifestyle brands as well. It houses brands extremely as Marigold, a modern Indian-wear brand and Mikoto, a sterling silver jewellery brand.
This funding will be utilized to board all its brands and start or acquire new brands in strategically identified white spaces.
Founded in 2016 by Ayushi Gudwani, the company began as a premium workwear brand. Delhi, Mumbai and Bengaluru contribute about 55% to the company’s sales and about 40-45% comes from tier-II cities.
In its earlier raise, investors comprised Pradeep Parameswaran, president of Uber India and South Asia; Dilip Khandelwal, managing director and head of technology at Deutsche Bank; and Suhail Sameer, CEO at RP-Sanjiv Goenka Group who financed in their capacities.
A report India B2C Report 2022 by CII and Shiprocket said D2C brands are estimated to be a $60 billion industry by FY27, registering a CAGR of about 40%
