Locofast raises $15 million from Stellaris Venture Partners & Chiratae Ventures
- ByStartupStory | March 1, 2022
Locofast, a fashion supply chain platform, raised $15 million from Stellaris Venture Partners and Chiratae Ventures in a Series A fundraising round. Locofast is a business-to-business (B2B) platform for textile manufacturers and buyers, founded in 2019 by serial entrepreneur Deepak and his co-founder Mohit Piplani, with whom he previously worked on WeAreHolidays.
Axilor Ventures, helmed by Kris Gopalakrishnan, and angel investors such as Uni’s Nitin Gupta and Suhail Sameer, BharatPe’s chief executive officer, also participated in the round, which was a mix of loan and equity. Stride Ventures and Blacksoil Capital provided Locofast with an undisclosed sum of debt.
The funding will be used to improve existing products and introduce new ones aimed at small and medium businesses (SMEs). Locofast also intends to grow to over 15 cities both within and outside of the United States.
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