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FS Life (Prev. FableStreet) has raised a Pre-Series B round of Rs 50 crore led by Fireside Ventures.

Startup founders such as Ghazal Alagh (Co-founder, MamaEarth), Mehul Agarwal and Vikram Chopra (Co-founders, CARS24), Ruchi Kalra (Co-founder, OfBusiness), Malika Sadani (Founder, The Moms Co.), and many more participated in the round.

Dipanjan Basu, Partner at Fireside Ventures, said, “We have seen FS Life scale 10X despite COVID-19 with unparalleled capital efficiency. We have re-invested in them with the belief that they are set to change the landscape of the fashion industry in India with their insights driven design innovation, efficient supply chain and best in class sizing for Indian women.”

FS Life recently transitioned from a single brand to a house of brands with the launch of Marigold, a modern Indian wear brand and Mikoto, a sterling silver jewellery brand.

The funding will be used to scale its existing brands and start or acquire new brands. It plans to cross Rs 1,000 crore revenue run rate in the next 3-4 years.

Ayushi Gudwani, Founder of FS Life, said, “We have built a capital-efficient and profitable business. The operations fund itself and equity capital is only leveraged to build infrastructure and the team to scale.”

“We plan on using this money to scale our supply chain technology; build a best-in-class team and enter offline retail. We have also used this opportunity to bring some amazing founder-angel investors whose guidance in building large scale brands and internet businesses will be of great value to us,” she added.

Launched in 2016, the startup has scaled 10X in the past two years by revamping its product portfolio to address evolving consumer needs.