A investment round led by Blume Ventures, an early-stage venture capital firm, has raised US $ 5 million for the ethnic apparel brand Fashor.  Brand development, supply chain strengthening, and omnichannel expansion are the funding plans for the company.

Reliance Ajio, Nykaa Fashion, and Flipkart-owned Myntra are just a few of the fashion marketplaces where Vikram and Priyanka Kankaria’s products may be found, in addition to the brand’s website and app.

“We are excited to leverage this partnership to drive our next phase of growth, with a continued focus on delivering exceptional value to our customers,” said chief executive Vikram Kankaria.

In the coming years, the business hopes to create more than 100 stores featuring exclusive brands. Executives in the business estimate that the branded and organised ethnic wear market in India is valued at around Rs. 30,000-35,000 crore and is expanding at a rate of 20–25 per cent.

Commenting on the investment, Apurva Dixit, AVP Investments at Blume Ventures, said, “Fashor is making quality fashion accessible to women, driving freshness in ethnic wear like never before. Priyanka and Vikram have instilled a strong product DNA in Fashor, supported by a scalable supply chain, that enables them to offer price points untouched by national incumbents.”