The Yarn Bazaar raises Rs 150 million in First Funding Round
The Yarn Bazaar, an online B2B managed marketplace, providing a one-stop solution for all yarn-related requirements, has raised Rs 150 million in a Pre-Series A Round.
The investment was led by the Rajiv Dadlani Group and Equanimity Ventures and also saw participation from reputed Family Offices and HNI investors.
The funding will primarily be used to solidify its base, by building a strong senior leadership team, also expand its operations, by increasing its market reach, strengthening its technological infrastructure, and activating its existing strong inbound pipeline, in order to meet the growing demand.
Additionally, The Yarn Bazaar will be investing further to enhance its online presence and improve the overall user experience, allowing suppliers and buyers to connect more easily, as well as access helpful resources and data.
The Yarn Bazaar burst into prominence, during the first season of Shark Tank India, when it successfully secured Rs one million in funding from prominent entrepreneurs and investors.
Since its inception in 2019, The Yarn Bazaar platform has facilitated over Rs 3.7 billion worth of transactions, with an average transaction value of Rs 1.9 million.
The biggest achievement for the marketplace is that all transactions involved 100% advance payments (pre-shipment) by the buyers, which is a stark departure from an industry that works largely on credit.
