Fabriclore, a leading tech-enabled fabric sourcing platform, has announced the successful closure of a $1.6 million funding round led by PeerCapital and Regal Group.
The funding will bolster Fabriclore’s strategic initiatives aimed at enhancing its market penetration across key regions including the USA, Europe, the Middle East, and India. Vijay Sharma, CEO of Fabriclore, expressed optimism about leveraging the investment to optimize operational efficiencies and elevate customer satisfaction through advanced technological integration.
Raju Shroff, Managing Director of the UAE-based conglomerate Regal Group, highlighted the transformative potential of Fabriclore in bridging gaps in India’s textile industry. “Unlike China, the lack of organized textile sourcing and processing has limited the exposure of Indian textiles to global markets,” Shroff remarked. He emphasized Regal Group’s confidence in Fabriclore’s ability to expand its footprint globally based on decades of expertise in fabric distribution across the Middle East and Europe.
Fabriclore has carved a niche by streamlining complex fabric processing stages, including dyeing and various printing techniques, resulting in significant operational efficiencies. “Our tech-enabled processes have reduced delays by 20 percent and customer rejections by 33 percent, setting new benchmarks in the industry,” Vijay Sharma affirmed.
Since its inception, Fabriclore has curated India’s largest modern retail brand with an extensive catalogue featuring 10,000 SKUs sourced from over 550 suppliers nationwide. The company prides itself on ensuring traceability and authenticity through direct partnerships with leading mills and yarn suppliers.
Looking ahead, Fabriclore aims to triple its Monthly Recurring Revenue (MRR) within a year and scale its annual fabric supply to 50 lakh meters globally. The latest funding round underscores Fabriclore’s commitment to revolutionizing the fabric sourcing landscape on a global scale.
