Women Occasion-wear Brand Koskii Raises Rs 61 Cr In Series A Funding
Koskii, a Bengaluru-based women’s occasion-wear brand, has raised Rs 61 crore in a Series A funding round led by Baring Private Equity Partners India.
As per the startup, the freshly raised funds will be used to expand its offline store footprint, strengthen its online presence, invest in its proprietary tech platform, and build its team.
Koskii | Women’s Occasion-wear Brand
Founded by brothers Umar Akhter, Sameen Eajaz, and Haroon Rashid, later joined by their sister Ayesha Saubia, Koskii is a Bengaluru-based women’s occasion-wear brand that offers a contemporary women’s clothing range, including lehengas, sarees, salwar suits, gowns, and fusion ensembles, designed for various occasions.
The startup claims to have implemented tech-enabled buying and distribution processes which have helped them optimize their supply chain and drive efficiency.
Speaking about the development, Umar Akhter, Co-founder and CEO of Koskii, said,
“With this investment, we will drive innovation in technology, expand our store network, enhance our online presence, and continue to build a team dedicated to establishing Koskii as a global brand for ethnic occasion wear for women.”
The Bengaluru-based clothing brand claims to have delivered orders to more than 10,000 pin codes across the country. Additionally, Koskii is investing in opportunities for international expansion.
Currently, Koskii operates in Bengaluru, Chennai, Delhi, Coimbatore, and Hyderabad. It aims to expand its offline store presence in new cities while penetrating existing markets.
Commenting on the development, Mitali Chitre, Partner at Baring Private Equity Partners India, said,
“The quality of the team, their integrity, the focus on unit economics and the vision to make Koskii the first pan-India women’s occasion wear brand got us excited to be a part of the company’s growth journey.”
The current funding round was led by Baring PE India, which has invested Rs 4,000 crore across five funds in more than 90 companies operating in the technology, consumer, manufacturing, BFSI, and pharmaceutical/healthcare sectors.
Last month, Baring PE India invested in PropertyPistol, a Mumbai-based proptech startup. The firm also led a $9.2 million funding round in BluSapphire Cyber Systems, a full-stack cybersecurity platform.
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