Fashion tech startup LetsDressUp raises Rs 11 crore in pre-Series A funding

Gurugram-based fashion tech startup LetsDressUp has raised Rs 11 crore in a pre-Series A funding round led by GVFL Limited, Indian Angel Network (IAN), and The Chennai Angels. 

Existing investors, including Titan Capital, also participated in this round.

Purpose of fundraising

The startup plans to use the new funds to accelerate its growth, enhance its AI-driven design technology, expand its team across various verticals, and expand its presence across channels and categories.

The strategic investment is aimed at strengthening the company's technological capabilities and broadening its market reach.

What does LetsDressUp do?

Founded by Drishti Anand and Aditya Balani, LetsDressUp offers comfortable-size apparel brands for women of all body types in all styles at an affordable price point. The brand claims to launch 100s of new designs every month in all sizes.

This innovative approach has helped the company maintain impressive performance metrics, with return rates around 4%, repeat purchase rates over 25%, and a Net Promoter Score (NPS) above 50. The zero-dead inventory model ensures that the company produces only what is demanded, reducing waste and increasing efficiency.

Leadership comments

Drishti Anand, co-founder of LetsDressUp, said, "We are creating a win-win model at LDU. Our agile supply chain helps us cater to the growing needs of consumers by providing them with fresh designs every week without them being out of stock. This also empowers the manufacturers to earn more and better their lives. The zero-dead inventory model helps us contribute to reducing the pollution caused by the fashion industry."

Kamal Bansal, Managing Director at GVFL Limited, said, "We see immense potential in LDUs approach to transform the fashion industry with their zero dead-inventory model and nimble supply chain. The investment aligns with our commitment to sustainability and efficiency."