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Showroom B2B raises $6.5 million in funding led by Jungle Ventures, ET Retail

Showroom B2B, a business-to-business platform for unbranded garments, on Wednesday said it has raised $6.5 million in a pre-Series A funding round led by Jungle Ventures.

The round saw participation from other new investors – Accion Venture Lab, Saison Capital and ICMG Partners. Existing backers included Strive, Gemba Capital and Titan Capital, and debt partners Alteria Capital and Stride Ventures.

Showroom B2B works with an asset-light business model offering retailers access to a broader inventory of unbranded garments within their local communities. It has partnered with over 500 garment manufacturers and 3,000 retailers and operates an app-based ordering system for doorstep deliveries.

The latest round of funding will help scale the company’s experience store model across Tier II and III markets in India, as per a statement. These stores facilitate access to garment samples and catalogues for fashion retailers and wholesalers.

Showroom B2B will also enhance its private labelling capabilities and bring premium and affordable fashion to retailers in Tier II and below cities, the statement added.

India’s unbranded garment wholesale market is set to surge from $50 billion to $80 billion in the next five years, Vishesh Sharma, Vice President, India investments, told ET.

“We are planning to strengthen our supplier base for our private labels. We already have some private labels that we source from Bangladesh. These are the products where the marginal gain is significantly better as compared to the regular marketplace,” Abhishek Dua, co-founder and CEO of Showroom B2B, told ET.

Showroom B2B was founded by IIM Lucknow alumni Abhishek Dua and Shubham Gupta in 2020. This is the duo’s second startup together, the first being in the B2B furniture industry, where they manufactured eco-friendly particle wood boards.

Currently, Showroom B2B operates three experience stores in different geographies, allowing fashion retailers to inspect manufacturing samples before placing bulk orders.

The company plans to expand its experience centres into states such as Rajasthan and West Bengal in November.

  • Published On Oct 19, 2023 at 08:37 AM IST

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