Charmeuse Technologies, which runs the Vastra App, a technology platform for textile companies, has now secured an undisclosed amount in an angel funding round.
The funding round was backed by the angel investors Vivek Khare along with some other early-stage investor collective LetsVenture, whose identities were not disclosed.
Vastra app will use the new funds for customer acquisition and product development purposes. The platform aims to reach 5000 businesses across India in the coming two years.
“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,” Vikas Rajpurohit, founder of Vastra App, said.
“The textile market is a large opportunity to tap, and Vastra offers the perfect solution in terms of efficiency and cost. The impact on networks (karigars, retailers, staff members, wholesalers, and traders) gets more customers, and this, in turn, saves the company’s resources and time to market the product,” lead investor Khare, who has also funded startups including Zomato, Jaypore and PolicyBazaar, said.