Charmeuse Technologies, the Ahmedabad-based firm and developer of Vastra App, recently raised angel funding. The amount for the funding is kept undisclosed.
Vastra App is a notable technology platform for textile companies.
The angel investors included Vivek Khare along with other members of early-stage investor collective LetsVenture, whose identities were not disclosed, according to a statement.
Also, Blackberry, an apparel company headquartered in Gurgaon, participated in the round.
The amount received will be used for expanding its customers’ acquisition and product development. The company is aiming to reach 5,000 businesses across India, in the next 2 years.
Lets Venture, based in Bengaluru, started its journey 6 years ago and claims to have supported 200 start-ups to raise over US $ 114 million from 6,500 investors, 120 micro-funds and 150 family offices on its platform.
Vikas Rajpurohit, founder of Vastra App, said “We are looking at a connected textile world where all the manufacturing businesses and related stakeholders are connected via technology platforms, which makes their life easy by improving efficiency, reducing costs and enhancing production.”
Launched in 2018, Vastra App assists apparel businesses through solutions in process management and decision-making. The technology uses data from various sectors involving manufacturers, production managers, workers, designers, sales persons and supplier. The app also helps in digital transaction.
The platform has around 500 apparel manufacturers majorly from Ahmedabad and Surat and has recorded 1.5 million transactions so far. The users have made payments worth Rs. 80 crores on the platform and also every month it adds about 60 customers according to the statement.
