Chennai-based Avishya has raised a round of Angel Investment from a group of Investors based in the USA. The brand has been pioneering Indian handlook sarees and clothing.
The company is said to have raised INR 11.65 Cr (USD 1.4 Mn) which it would use for expansion offline with new stores as well as amplify its online presence.
Avishya was founded by Kalaivani Sadagopan and Jawahar Singh in 2016/ Ever since, the brand has been on a mission to introduce the finest Indian handloom sarees and apparel to discerning women consumers worldwide.
What started as a purely online store has grown into a ‘go to’ hub for handloom products, showcasing handcrafted sarees and apparel from over 100 weavers and designers across India.
The angel funding has allowed the brand to open its first flagship store in Chennai, diversify product lines, and establish an in-house tailoring unit. The company plans to expand to other Southern States as well as a well supported online marketing that is targeted at the Indian diaspora worldwide.
The Indian ethnic wear market is estimated to be worth Rs.150,000 Cr (USD 180 Bn), with significant potential in the organized sector. Several home grown brands such as Fab-India, Manyavar, Aditya Birla Retail’s TASVA, Reliance Retail’s Avantara, among others have been expanding their horizon as well as several D2C brands have been rapidly expanding their shores.
Avishya stands out in the market by offering the most extensive range of handloom sarees and apparel sourced directly from weavers spanning India’s diverse regions. This approach eliminates intermediaries, ensuring fair pricing for customers.
What truly sets Avishya apart is its heritage weaves, some dating back centuries, and its collaboration with a new generation of weavers who infuse contemporary trends into traditional designs.