Shobitam raises seed funding round of Rs 11 Cr (US$ 1.5m) from Hearth Ventures and leading angel investors from ex-Amazon Leadership team. Marching to the vision to democratize ethnic fashion globally
- ByStartupStory | February 23, 2022
Serving the finest weaves of the Indian handmade industry to a global audience in 30+ countries, Shobitam, Inc is one of the fastest growing global D2C online platforms for ethnic fashion brands. Started by Aparna and Ambika, the founders of Shobitam are experienced technology executives with a passion for beautiful fashion and making a difference to the artisans and weavers who make them.
The handmade industry is the second most important job creator after agriculture in India and provides a deep connection to our culture and roots. India is the only country in the world to be blessed with an enormous diversity of artisanal talent and culture, yet has captured only 3% of the global market share. Overseas people of Indian origin maintain strong socio-cultural ties with India and apparel is one timeless category. This gives a very large addressable market for Shobitam, where they have already got tens of thousands of customers, received over 4000+ 5 Star Customer Reviews, built a social impact and purpose-led soul, and are powered by technology to deliver ethnic fashion for the global diaspora.
Aparna Thyagarajan, Co-founder of Shobitam shares on their partnership with Hearth Ventures “At Shobitam, we believe in celebrating one’s timeless heritage and are building a digital platform to bring eternal heirlooms from our talented weavers and artisans across India to the World. We are proudly “Weavers First, Customers First” as we drive to our mission to make all people “Look good, Do good and Feel Good!” while delivering exceptional value and world class experience. So, we are thrilled by the support of Hearth Ventures and our angel investors who are also very purpose led and see the huge potential of digital transformation across the handlooms, arts and crafts industry.
According to the Hearth Ventures team and their journey so far – “Many of us from the technology industry have seen how the last 20 years have been so transformational for the sector and the Indian economy. Just like the technology industry grew on the base of the enormous talent that this country has to offer, we believe we have the same opportunity for the hand-made industry. We are very excited about our investment in Shobitam and enthusiastic in supporting outstanding entrepreneurs working in this underserved sector”
“I am excited to work with the entire Shobitam team. People welfare over profits has been the Shobitam mantra and I believe this will go a long way in sustaining the various arts and crafts in India. I love this thought process and am ready to do my part,”, said Girish Lakshman, Former VP Global Logistics at Amazon.com
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