A fashion supply startup, Thread Factory, has successfully raised Rs 1.5 crore in a pre-seed funding round led by Aviral Bhatnagar at AJVC. The funding will be used to strengthen its technology stack, expand its workforce, onboard additional retailers and manufacturers, and further develop a data-driven supply infrastructure for the apparel industry in India.
Founded by Vivek Solanki and Paras Jindal, Thread Factory operates a B2B platform that connects independent apparel retailers with manufacturers nationwide. By facilitating a more efficient process for retailers to discover and source designs, and aiding manufacturers in production planning through enhanced demand visibility, the company aims to optimize the fashion supply chain.
In India, where sourcing often occurs through informal channels like phone calls and WhatsApp, Thread Factory’s platform addresses existing inefficiencies that result in poor demand forecasting, inefficient procurement, and excess inventory for retailers. Through its platform, retailers can directly browse products, place orders, and generate transaction-level data, ultimately bringing greater intelligence to the supply side of the industry.
The startup reports an annual recurring revenue (ARR) of approximately Rs 4 crore, with a notable 60% monthly repeat customer rate. Additionally, it has successfully onboarded over 40 manufacturers on its platform to date.
AJVC, the early-stage investment firm led by Aviral Bhatnagar, continues to expand its investment portfolio across emerging startups in India, contributing to the growth and innovation within the tech startup ecosystem.
Source: Entrackr : Latest Posts