Indian fashion and lifestyle startup Bazar India raises over USD 3.35 million in Series A round

Bazar India, a growing fashion and lifestyle startup, has raised USD 3.35 million (25 Crore INR) in a Series A funding round led by Shashvat Nakrani, co-founder of Bharatpe, on 31 December 2021.

[ 1 USD = 74.51 INR ]

Investors: The company used the Planify Capital Platform to raise funds. The latest funding round was led by Shashvat Nakrani, co-founder of Bharatpe, Sanjiv Maini, VP at Hindware group; Bhumika Srivastava, HR Director at Airbnb and other executives. 

Planify is a fintech startup that focuses on building India’s first marketplace for private equity. Planify provides stocks that are not yet listed to investors (Angel, Accredited Investors, VC, AIF, and PE Funds) to make the exchange of hands accessible in unlisted companies.

The Objectives behind the funding: The company plans to deploy the current proceeds to expand its team, marketing and branding, expansion of the financing plans and platform advancement.

About Bazar India

Incorporated in 2015 by Atul Garg and Sushil Karwa, Bazar India is one amongst the leading retail brands in India and also India’s fastest growing fashion & lifestyle startup. Bazar India provides a wide range and variety of apparel and general merchandising at an affordable price, just footsteps away from the customers. Bazar India operates as “ONE STOP SHOP”, which caters to the complete fashion needs of the entire family at the most affordable prices. The company has a PAN India presence with 55 stores in 51 cities and 13 states, offering its customers a content-led lifestyle retail experience. Bazar India has a strong base of more than 4,500 employees. The company earned a net profit after tax of INR 1.8 Cr with a revenue of INR 180 Cr during FY21 despite facing COVID-19 lockdown and restrictions. The company is valued at INR 750 crores at the moment.

What the Founder has to say:

Atul Garg, CEO of Bazar India, stated, “The funds raised will be used for the company’s expansionary purposes as the company plans to open 20 more stores in states such as Uttar Pradesh, Bihar, Jharkhand, Orissa, and also in South India. The company is expected to reach a top line of Rs1000 Cr with a PAT of Rs70 Cr in the next five coming years. “

What the Investor has to say:

Rajesh Singla, CEO of Planify Capital, said, ” Bazar India is poised to be one of the most prominent players in the retail segment in North East India. Early investors will have a great opportunity to make excellent returns on their investments.”

For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.

We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!

Next Article