GenZ-focused fast fashion brand Newme raises $5.4M led by Fireside Ventures, others

GenZ-focused fast fashion brand Newme has raised $5.4 million (or approx Rs 45 crore) in a seed funding round led by Fireside Ventures, with participation from Aum Ventures, 2am VC, and All In Capital. 

Enhancing the supply chain

According to Newme's founder and CEO, Sumit Jasoria, The raised capital will primarily be used to enhance the supply chain, scale up manufacturing within India, and expand the brand's offline presence from two to 20 cities, covering 1.5 lakh square feet of space.

Additionally, the brand aims to strengthen its technology team over the next 12 months. It is focused on increasing its local manufacturing base from 35% to 50%, with current production split between Mumbai and China.

Targeting Gen Z 

Founded in 2022, the Bengaluru-based startup caters specifically to Gen Z, those born between the mid-to-late 1990s and the early 2010s. It claims to have served over 3.5 lakh customers through its website and stores.

Interestingly, Newme leverages technology and the expertise of four designers to increase its ability to create 500 designs per week. 

Campus ambassador programs and founding team

Newme said it has appealed to students across approximately 300 colleges in 150 cities by utilizing campus ambassador programs. 

The founding team includes Sumit Jasoria, Shivam Tripathi, Vinod Naik, and Himanshu Chaudhary. Jasoria, with his background in managing ecommerce ventures and expertise in fashion photography and AI-based image management, said that the fast fashion space is now as much a technology game as it is a fashion one. 

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