Fable Street Lifestyle Solutions Pvt Ltd, which runs western wear brands, has raised a Pre-Series B round of Rs 50 crore led by its existing investor, Fireside Ventures. Ghazal Alagh, co-founder of MamaEarth; Malika Sadani, founder of The Moms Co.Mehul Agarwal & Vikram Chopra, co-founders of Cars24 and Ruchi Kalra, co-founder of Business, are also participating. Since 2016, this has been the third raise of the company in its inception.

About Rs 21 crore in pre-Series A round from Fireside Venture, they had raised around Rs 3 crore from friends and family. Now the company expanded its focus to curating lifestyle brands as well. Founded in 2016 by Ayushi Gudwani, the company began as a premium workwear brand. Delhi, Mumbai and Bengaluru contribute about 55 per cent to the company’s sales, and about 40-45 per cent comes from tier-II cities.

Dipanjan Basu, a partner at Fireside Ventures, said, “We have seen the company scale despite covid and with capital efficiency. We have invested in them again with the belief that they are set to change India’s fashion industry landscape.”

Gudwani said the company would look to acquire a deep ethnic brand and one that is in the athleisure space. “We have built a capital efficient business and now plan to use this money to scale our supply chain technology, build a team and enter offline retail as well,” she said. By 2022, India D2C and Shiprocket said, D2C brands are estimated to be a $60 billion industry by FY27, registering a CAGR of about 40 per cent.