Indian casual wear brand The Souled Store raises $10m from Elevation Capital
Photo by Priscilla Du Preez on Unsplash
August 4, 2021
Mumbai-based casual wear brand The Souled Store on Wednesday said that it has raised Rs75 crore as a part of its Series B funding led by Elevation Capital.
The investment round also saw participation from angel investors and startup founders including – Sahil Barua, co-founder Delhivery; Gunjan Soni, chief executive officer, Zalora; Revant Bhate, co-founder, Mosaic Wellness; Ramakant Sharma, founder, Livspace among others.
According to the company, it will be using the capital to expand its product portfolio on both licensed merchandise and casual wear, while building better brand awareness and offline retail presence pan India. The company will also be using the funds to expand its manufacturing capabilities and focus on recruiting activities.
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By siliconindia | Thursday, 29 July 2021, 05:43 Hrs The subsidiary of FedEx known as FedEx Express is investing a total of $100 million in Delivery, an Indian logistic startup. The investment move proves that FedEx is trying to expand its firm with its presence in the South Asian country. The deal will include a long-term commercial agreement. The focus of FedEx Express will lie on international export and import to and fro from India. On the other hand, Delhivery will focus on pickup and delivery services across the Indian market. Further, FedEx will be helping Delhivery with its assets to expand its business in India.
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