SUMMARY
The round also saw participation from Escape Velocity, Abhishek Goyal (Co-founder, Tracxn), and IIM Indore Alumni Angel Fund
Includ will use the funds to improve its supply chain, build in-house technology and create brand awareness
The company claimed it crossed monthly sales of more than INR 2 Cr within a year of its launch
Gurugram-based online kidswear startup Includ has raised $1.5 Mn (around INR 12.5 Cr) as a part of its seed funding round led by Incubate Fund Asia.
The round also saw participation from Escape Velocity, Abhishek Goyal (cofounder, Tracxn) and IIM Indore Alumni Angel Fund.
Includ will use the fresh funds to improve its supply chain, build in-house technology and create brand awareness. Besides, the proceeds will also be deployed for marketing and brand strategies.
Founded in 2023 by Ashwin Rastogi, Includ is a kidswear brand for children aged 0 to 14 years old which claims to offer comfortable and stylish clothing options.
The startup plans to double down its bet on technology to vertically integrate with its suppliers, build a robust and efficient supply chain and focus on developing its front-end platform and mobile application.
It claims to have crossed monthly sales of more than INR 2 Cr within a year of its launch.
Ashwin Rastogi, founder of Includ, said, “India’s kidswear market is experiencing a dynamic shift – we are seeing rapid growth in demand for in-trend clothing in the affordable premium segment.”
“We are excited to partner with Includ as they build design-led high quality and affordable brand for Indian kidswear market. Rastogi’s vision, combined with strong execution capabilities and global supply chain expertise we are very excited to support him and build a global brand from India,” said Rajeev Ranka, partner of Incubate Fund Asia.
According to a report, India’s kids apparel market (which caters to children between 0 to 14 years of age) is expected to reach $24.5 Bn by 2028.
India’s kidswear sector has gained traction from Investors lately.
For instance, last year, online kids’ apparel retailer Hopscotch announced that its parent company, Hit the Mark, Inc., raised $20 Mn in a funding round led by Amazon.
In the same year, Reliance Retail acquired a 51% stake in Ed-a-Mamma, a kid and maternity-wear brand founded by actor Alia Bhatt.
