Madsto secures Seed funding from Prajay Advisors LLP
Oct 20, 2023
PNN
New Delhi [India], October 20: Madsto is a fashion retail brand which is primarily into the men's casual wear category, where they have been making significant strides and is thrilled to announce that the brand has successfully raised an undisclosed amount in seed-stage funding round by Prajay Advisors LLP, Mumbai. The funding round was advised and facilitated by capitalCORN, a platform specializing in helping early-stage startups with fundraising. This investment will further accelerate Madsto's growth story in the competitive fashion retail industry.
Madsto was founded by Prashanth Sathri, it reflects and expresses those stories through its products and philosophy and inspires to create more aspirational stories. It is a leading young clothing brand offering high-quality, on-trend clothing at affordable prices. They are an inclusive, optimistic and empowering company that celebrates the individuality of every single customer and associates. Their purpose is to tell the world that every story is powerful and collectively all the stories aspire more to the world. The brand's tagline, "Your Mad Story," emphasizes its belief that every person has a unique story.
The founder of Prajay Advisors Dr Prakash Mody said, "We are very pleased to be partnering with Madsto. One of Madsto's key differentiators is its commitment to 'Make in India' products. The company sources its clothing materials from within India and manufactures all its products in the country. This approach not only supports the 'Make in India' initiative but also ensures quality contr ol and helps the local economy. Madsto's market strategy centres on profitability. The company's lean operations allow it to maintain a competitive edge while continuing to expand its product offerings''. N. A. Shah Advisors LLP situated in Mumbai, acted as a transaction advisor to Prajay Advisors.
Vineet Neeraj, Founder of capitalCORN (www.capitalcorn.com ) further added that Madsto's vision is ambitious. With online fashion space consumption exploding in the next 7 to 8 years, and with less than 30 online fashion brands in the country with a revenue of 1000+ CR INR, there is enough room for companies like Madsto to grow exponentially and profitably. We are delighted to be a part of the Madsto journey.
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