Chennai: ReshaMandi, India’s first silk-tech startup that serves as a B2B marketplace for silk farmers, businesses, and retailers in India, announced a Series A funding round of US $30 million, led by global alternative investment manager Creation Investments and other investors.
This round featured a mix of equity and some debt. The equity funding includes new investors such as 9 Unicorns, Venture Catalysts, Sandeep Singhal from Nexus, Brijesh Agarwal, founder of IndiaMART, and Omnivore, which also led the seed round of ReshaMandi. Debt investors include Northern Arc, Alteria, Innoven, and Stride Ventures, it said in a release.
Founded in May 2020, ReshaMandi provides a full-stack digital ecosystem, starting from farm to fashion.