Fabrito Secures Funding Led by Green Trunk Ventures to Boost B2B Fabric Marketplace
- ByStartupStory | July 6, 2024
Fabrito, a burgeoning business-to-business (B2B) fabric marketplace and procurement platform, has successfully raised an undisclosed amount in a recent funding round. This round was spearheaded by Green Trunk Ventures, with notable participation from angel investors including Maninder Gulati from OYO, Krishna Kalyan T D from Laurus Bio, and Puja Jain, an ex-McKinsey professional.
The funds will be channelled towards enhancing Fabrito’s technology infrastructure, specifically the development of a software-as-a-service (SaaS) platform tailored for ready fabric suppliers. The company is also set to fortify its fabric sourcing platform, which serves the critical needs of fashion brands and garment manufacturers.
The startup, founded in 2023 by Naresh Dhaka, Pushpendra Singh, and Mayank Narain, aims to leverage technology to provide a curated selection of ready fabrics. This approach promises lower turnaround times, minimal order quantities, and competitive pricing. By aggregating a collection of ready-to-ship fabrics, Fabrito simplifies fabric sourcing for brands and garment manufacturers, enabling quick replenishment.
“Fabrito’s business model focuses on providing a wide assortment of fabrics, utilizing technology to offer better prices and lower minimum order quantities (MOQs),” said the founders.
In addition to technological advancements, Fabrito plans to use a portion of the funds to expand its network of textile manufacturers and sellers. This will involve significant recruitment efforts across sales and supply verticals. By hiring additional sales and supply resources, the startup aims to build stronger relationships within various textile hubs across India, enhancing its market presence and streamlining operations in key textile centres.
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