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Textile Manufacturing Startup Fantail Nets Funding From Riverwalk, Others
- Fantail, a textile manufacturing startup, secures INR 13.75 Cr ($1.6 Mn) in seed funding from Riverwalk Holdings, Incubate Fund Asia, and All in Capital.
- The Surat-based startup intends to use the funding to upgrade machinery at partner weavers, mills, and processors, streamline operations, and hire across design, quality, and technology domains.
- Founded in 2023 by Ramya Iyer, Fantail operates in the B2B textile manufacturing space, specializing in man-made fabrics like nylon, viscose, and polyester.
- Fantail works with weavers, mills, and processors in Surat, serving retail fashion brands such as Vishal Megamart, Westside, Shopper Stop, and Lifestyle.
- The startup's manufacturing units are in GIDC Sachin, Udhna, Kim & Palsana in Surat, with a design facility in Gurugram, Delhi NCR.
- Operating in India's MMF sector, Fantial brings structure, technology, and scalability to small enterprise weavers and processors.
- In the competitive B2B fashion manufacturing sector, Fantail faces competition from companies like ZYOD, Fashinza, Groyyo, and others.
- Fantail's funding round comes amidst similar moves by other fashion manufacturing startups like Groyyo and ZYOD to enhance their operations and funding.
- Groyyo aims to raise $40 Mn and expand globally, while ZYOD concluded a $18 Mn Series A round to invest in technology and global expansion.
- Fantail's funding signals growth in India's apparel and textile industry, projected to reach $387.3 Bn by 2028.
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