Binny Bansal leads an investment in fashion designer Masaba Gupta’s label

Fashion designer Masaba GuptaIANS
  • Flipkart’s Binny Bansal has led a $1 million funding in Masaba Gupta’s designer brand.
  • Masaba has been in business for 10 years but has raised her first round of investment now.
  • In June 2019, Bansal had sold a part of his shares in Flipkart for $76.4 million.
Flipkart founder Binny Bansal invested in popular designer Masaba Gupta’s fashion label. Masaba – as the apparel brand is called – has raised $1 million in its first round of funding led by Bansal.

“After being in the fashion business for 10 years, it was the right time to bring institutional investors on board,” said Masaba Gupta in a statement.

She started her own fashion label in 2009, but is now eyeing expansion. She wants to grow the number of her stores from 11 to 50 in India and abroad.

She recently unveiled an official Game of Thrones collection.

“Masaba has been able to create a great brand backed by her unique designs. She is one of the youngest designers to do so and I believe she is just getting started on building a great business,” said Bansal.

Ever since he exited the company he founded, Bansal has been busy investing into startups and turned into a full-time investor. In June, Bansal had sold a part of his shares in Flipkart for $76.4 million, according to filings sourced by paper.vc. Now, Bansal has a residual share of 3.52% in the company.

In January 2019, Bansal closed the first round of $32 million for his VC fund called ‘021 Capital’ which he had formed with Sailesh Tulshan, his financial adviser. The former Flipkart Group CEO had raised a round from Premji Foundation also from a few former colleagues from Flipkart.

He had made personal investments too, like in insurtech startup Acko and legal startup Spotdraft amongst others.

See Also:
Flipkart’s IPO in the US could see Walmart exit, Binny Bansal has already begun cashing himself out
{{}}
Add Comment()
Comments ()
X
Sort By:
Be the first one to comment.
We have sent you a verification email. This comment will be published once verification is done.