Madbow Ventures Ltd, co-founded by Naveen Mahlawat in August 2016, the fashion ecomm start-up has announced to enter a pre-series A funding led by Planify Capital, an official statement highlighted.
In this initial phase, MadBow Ventures Ltd has raised $2mn funding at a post valuation of Rs 100 crore.
Rajesh Singla, CEO of Planify, the strategic investment banker for Madbow Ventures for fundraising, said, “We have seen great traction from the investors for Madbow Ventures Ltd. Investors today are looking for positive cash flow companies which can scale the business exponentially. Madbow fits this investment framework beautifully.”
Currently, Madbow has a few in-house brands catering to lifestyle and fashion like stalkbae.com, streetstylestalk.com, slaydeal.com, lovedamoda & SlayXO.com. Showing positive growth since its inception, the company is aiming for at least 100-120 cr in the next 18-24 months. The D2C e-commerce brand has a base of around 12,00,000 + satisfied customers in a market of more than 25K serviceable PIN codes throughout India. In the year 2021, MadBow owned an export license and catered to international borders like Europe and Africa. Recently Madbow has done strategic tie-ups with leading marketplace players like Myntra, AJIO, Amazon Fashion etc and provided curated designs after discussing with their fashion teams.
With the fundraising phases, MadBow Ventures Ltd is planning to launch fashion brands /labels into kids, ethnic, high fashion, cosmetics & General merchandising as well bringing all the fashion and lifestyle requirements under one roof. After experiencing amazing responses from various events and exhibitions, the management is also planning for 100+ MBO stores & 10 EBO by end of 2022.
With a blueprint of the expansion ready, Naveen Mahlawat, also the Managing Director and Chief Executive Officer of MadBow Ventures Ltd., said , “We are in constant talks to raise up to $5M funds in the coming months and is expecting to float our Initial Public Offerings (IPO) in the next 24-36 months. There is a lot of demand for the latest fashion and with our in-house designing, we introduce innovative designs of garments and footwear to bring freshness in our portals at reasonable rates.”, says Naveen Mahlawat.”
The company will also continue is cater to other brands across the categories and move them to scale them at a fast pace with the help of technology, marketing & years of experience in operations to make successful D2C brands.