Rajiv Dadlani Group and Equanimity Ventures led a pre-Series A round of funding for the online B2B managed marketplace The Yarn Bazaar that brought in Rs 15 crore, according to a press release.
Family Offices of Arihant Patni, Ekta Kapoor of Balaji Films, Ritesh Malik of Innov8, Aakrit Vaish of Haptik, and Sumeet Srivastava of Spocto were among the additional investors who took part in the round. Along with textile industry veterans Anil Mansingka and Amit Lath, the Sharda Group of Companies, Nikunj Bagdia of Ken Enterprises, and Vineet Garg of Shri Ram Sarup Garg Cotton Mills, Cred’s Miten Sampat also took part in the round.
The company intends to make use of these funds to develop its technological foundation, broaden its market, and expand operations. It also intends to utilise the money to improve user experience overall and to improve its web presence.
Pratik Gadia, founder and CEO of the company said, “We are committed to endeavouring continuously to improve our platform and offerings, thereby creating a favourable ecosystem for yarn buyers and sellers.”
