Madbow Ventures Ltd., one of the leading names in the fashion industry, co-founded by Naveen Mahlawat, has raised $2 million in their Series A funding round led by Planify Capital, the strategic investment banker for Madbow.
Naveen Mahlawat, CEO of Madbow Ventures limited, stated, "The funds raised will be used for the company's expansionary purposes as the company is planning to launch fashion brands and labels in kids, ethnic, high fashion, cosmetics, and general merchandising, as well as bring all the fashion and lifestyle requirements under one roof. We are also planning for 100+ MBO stores and 10 EBOs by the end of 2022.
The key investors that contributed towards the Series A funding are Junita Majumder, owner at JK Future; Bhumika Srivastava, HR partner at Airbnb; Sanjay Damani, accredited investor from Mumbai; Jagannath MS, angel investor from Bangalore; Pranab Dutta, angel investor from Narayana, Delhi; Bhagya Lakshmi Inti, ace investor from Medchal, Telangana.
Madbow has a few in-house brands catering to lifestyle and fashion like stalkbae.com, streetstylestalk.com, slaydeal.com, lovedamoda, and SlayXO.com, which are also available on mobile applications.
(With inputs from ANI)