Investcorp invests $11.2 million in popular fashion platform Bewakoof
Mumbai-based fashion platform Bewakoof has raised investment worth $11.2 million in a funding round led by global alternative asset manager Investcorp. Bewakoof.com, founded by IIT alumni Prabhkiran Singh and Siddharth Munot in 2011, is a direct to customer platform online apparel firm that is focussed on providing distinctive and creative fashion at affordable prices for trendy and contemporary Indians.
Bewakoof creates distinctive fashion for the Indian youth, with in-house capabilities in design, manufacturing, marketing, manufacturing, technology, and data science. The firm claims to be delivering sales of over 650k products per month with a customer base of over 4 million. By far, the Investcorp fund has invested in four companies – Incred, ASG, Zolo, and Citykart, other than Bewakoof.
INVENT incubators invest Rs 8.5 crore seed fund in 31 social ventures
Three government-affiliated INVENT incubators, including SIIC-IIT Kanpur, IIM Calcutta Innovation Park, and CIIE Initiatives-Start Up Oasis Overall, has invested Rs 8.5 crore as a seed fund in 31 social enterprises. The INVENT program empowers startups across industries like healthcare, agriculture, livelihood and skill development, energy, and education in eight low-income states of India, namely, Rajasthan, Madhya Pradesh, Uttar Pradesh, Chhattisgarh, Bihar, Jharkhand, Odisha, and West Bengal.
According to a release shared by INVENT, out of the 139 incubated and funded enterprises, 58 have received further investment, up to Rs 133 crore, from leading venture capital organizations. This includes alumni social ventures, including Dehaat, which raised Rs 50 crore from Omnivore, Trifecta Capital and Angels; Medcords, which received Rs 7.5 crore from Infoedge, Waterbridge and Angels; and Nocca Robotics, which raised Rs 12.5 crore from IAN Fund and Angels, among many other enterprises.