Newme fundingImage Credit: Newme

Newme, a GenZ-focused fashion and apparel startup, has raised Rs 45 crore (approximately $5.4 million) in the seed round. The investment was led by venture fund Fireside Ventures, with participation from AUM Ventures, 1AM Ventures, and Allin Capital.

This new funding will be used by the company for the enhancement of the supply chain, team expansion, and technological advancements across different verticals, as mentioned by cofounder and CEO Sumit Jasoria.

Newme offers GenZ-focused fashion wear for women in the age group of 16 to 24 across India and Southeast Asia. The company brings around 200 new and trending designs every day with the help of technology and designers, and the products are as per the latest fashion trends that are accessible and affordable to all.

The startup is currently using an omnichannel approach to sell the products. It has a mobile application for its online presence and has three physical stores across Mumbai and Bengaluru. The company plans to launch 30 to 40 more physical stores across major cities in India in the coming future.

The company’s co-founders are Sumit Jasoria (CEO), Shivam Tripathi (COO), Vinod Naik (COB), and Himanshu Chaudhary (CTO), and it is headquartered in Bengaluru, Karnataka, India.

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