Koskii, the Bengaluru-based women’s occasion-wear brand has raised Rs 61 crore ($7.5 million) in a series A funding round led by Baring Private Equity Partners India.
Investment banking firm Steer Advisors also participated in the funding round.
The capital will be utilised to expand offline stores, strengthen Koskii’s online presence, technology development, and hiring.
Commenting on the funding, Umar Akhter, co-founder CEO of Koskii in a statement said, “This funding round validates Koskii’s robust business framework, which leverages technology as its core. Built on the principles of frugality, jugaad, and above all, profitability, we have established a strong foundation for growth.”
Mitali Chitre, partner at Baring Private Equity Partners India added, “The quality of the team, their integrity, the focus on unit economics and the vision to make Koskii the first pan-India women’s occasion wear brand got us excited to be a part of the company’s growth journey.”
Founded in 2017 by brothers Umar Akhter, Sameen Eajaz, and Haroon Rashid, along with their sister Ayesha Saubia joining later, Koskii has emerged as a leading brand in the women’s occasion wear category.
Currently, it has an offline presence in Bengaluru, Chennai, Delhi, Coimbatore, and Hyderabad and delivers online to over 10,000 pin codes across India.
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