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Bengaluru-based women’s occasion-wear brand, Koskii, has raised ₹61 crore in a Series A funding round led by Baring Private Equity Partners India.
The funds will be used to expand its offline store footprint, strengthen its online presence, invest in its proprietary tech platform, and build its team. Currently operating in Bengaluru, Chennai, Delhi, Coimbatore, and Hyderabad, Koskii aims to expand its offline store presence in new cities, while penetrating existing markets, it said in a release.
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The clothing brand claims to have delivered orders to more than 10,000 pin codes across the country. Additionally, the brand is investing in opportunities for international expansion.
“With this investment, we will drive innovation in technology, expand our store network, enhance our online presence, and continue to build a team dedicated to establishing Koskii as a global brand for ethnic occasion wear for women,” said Umar Akhter, Co-founder and CEO of Koskii.
According to Baring PE India, it has invested ₹4,000 crore across five funds in more than 90 companies operating in the consumer, technology, manufacturing, BFSI, and pharmaceutical/healthcare sectors.
Also read: PE investment in Indian real estate drops 20% in H1 2023: report
The clothing brand, founded in 2017, offers a contemporary women’s range, including lehengas, sarees, salwar suits, gowns, and fusion ensembles, designed for various occasions.
Investment Banking firm, Steer Advisors, acted as the sole transaction advisor to Koskii and also participated in this round of investment.
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