Avishya Handloom, an Indian handloom saree and clothing firm, has secured an investment of $1.4 million from a group of US-based angel investors.
The company plans to double its revenues in 2024-25 and 2025-26, with annual growth rates projected at 40 per cent to 50 per cent in the following three years, according to a statement.
In a market estimated to be worth Rs 150,000 crore, with substantial potential in the organised sector, Avishya looks to meet the growing demand for authentic Indian handloom clothing and premium-quality Indian design-centric apparel, it said.