FS Life, previously known as FableStreet raised a Pre-series B round of Rs 50 crore led by Fireside Ventures.
Numerous startup founders including Ghazal Alagh, Co-Founder, MamaEarth, Mehul Agarwal & Vikram Chopra, Co-Founders, Cars 24, Malika Sadani, Founder, The Moms Co., Ruchi Kalra, Co-Founder, OfBusiness participated in the round.
FS Life recently transitioned from a single brand FableStreet to a house of brands with the launch of Marigold- an Indian wear brand and Mikoto – a sterling silver jewelry brand.
This funding will be used to drastically scale all the brands and start or acquire new brands in strategically identified white spaces. FS Life plans to hit more than Rs 1,000 crore revenue run rate in the next 3-4 years.
FS Life has scaled 10X in the past 2 years by revamping its product portfolio to address evolving consumer needs which include work-from-home wear, evening wear, all-day wear, and more.
“We have built a capital efficient and profitable business. The operations fund itself and equity capital are only leveraged to build infrastructure and the team to scale. We plan on using this money to scale our supply chain technology; build a best-in-class team and enter Offline retail,” said Ayushi Gudwani, Founder, FS Life.
“We have also used this opportunity to bring such Founder-angel investors whose guidance in building large-scale brands and internet businesses will be of great value to us” added Gudwani.
“We have seen FS Life scale 10x despite covid with unparalleled capital efficiency. We have re-invested in them with the belief that they are set to change the landscape of the fashion industry in India with their insights-driven design innovation, efficient supply chain, and best-in-class sizing for Indian women,” commented Dipanjan Basu, Partner, Fireside Ventures.