🧵 1. Accel, early investor in Flipkart and Myntra, eyes $15-20M funding round in Indian fashion e-commerce startup Newme, valuing it at $83-85M. #business
🧵 1. Accel, early investor in Flipkart and Myntra, eyes $15-20M funding round in Indian fashion e-commerce startup Newme, valuing it at $83-85M. #business
🧵 2. Newme, dubbed "Shein for India," sells rapidly-changing clothing lines with average order values of $18-30, targeting Gen Z consumers.
🧵 3. With competition intensifying, Accel's move follows top player Flipkart facing mounting competition from Ambani's Ajio, Amazon also expanding in fast-fashion.
🧵 Read more at: https://techcrunch.com/2024/01/30/accel-newme-fashion-ecommerce-india/