Lifestyle Brand Chumbak Raises Fresh Funding
Lifestyle brand Chumbak Design Private Ltd has raised around $13 million in a fresh round of funding led by mid-market private equity firm Gaja Capital, as per the reports by a financial daily.
The round also saw participation from its existing investors Matrix Partners India and Seedfund who invested a sum of Rs 22 crore and Rs 6 crore respectively, with Gaja Capital investing Rs 52 crore alone. Besides the institutional investors, Narayan Ramachandran, operating partner at Gaja Capital, also invested in his personal capacity, the report added.
This round will take the total funding raised by the company to $24 millions, in both equity and debt.
Founded by husband-wife Vivek Prabhakar and Shubhra Chadda, Chumbak aims at top 5-6 metro cities and will showcase its products through ...