Koskii raises Rs 61 Cr in Series A round led by Baring Private Equity

Women's occasion-wear brand Koskii will use the capital for the expanding offline stores, enhancing tech platform, and hiring.

Koskii raises Rs 61 Cr in Series A round led by Baring Private Equity

Wednesday June 28, 2023,

2 min Read

Koskii, the Bengaluru-based women’s occasion-wear brand, has raised Rs 61 crore in a Series A round of funding led by Baring Private Equity Partners India.

The fresh capital will be utilised to expand offline stores, strengthen Koskii's online presence, invest in technology platforms, and hire talent.

Investment banking firm Steer Advisors, which acted as the sole transaction advisor to Koskii, also participated in the funding round.

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.

Koskii founders
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Currently, it has an offline presence in Bengaluru, Chennai, Delhi, Coimbatore, and Hyderabad, with plans to expand further into newer cities. On the online front, the startup delivers orders to over 10,000 pin codes across India. Additionally, the brand is investing in opportunities for international expansion.

"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,” said Umar Akhter, Co-founder and CEO of Koskii.

Baring Private Equity Partners India has invested over Rs 4,000 crore across five funds in over 90 companies operating in the consumer, technology, manufacturing, BFSI, and pharma/healthcare sectors.

"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,” said Mitali Chitre, Partner at Baring Private Equity Partners India.

Edited by Kanishk Singh