Inner Sense, an Organic Lingerie Company, a Top Contender from Business Buyer’s Club Ahmedabad, 2017 – Raises Growth Capital
We are thrilled to share with you the recent success story of Inner Sense – a SME which was showcased last year in our first-of-its-kind, exclusive deal-discovery event Business Buyer’s Club, Ahmedabad. The business, which manufactures and markets organic and hygienic inner-wear for women, recently raised growth capital worth INR 2.5 Cr in a pre-series A round led by Venture Capitalist.
The Journey
Inner Sense was founded in 2014 by Abhishek Lodha and Nirja Lakhani, who come with a combined experience of 20+ years in garments industry, apparel design and organic textiles manufacturing. When Indiabizforsale.com organized Business Buyer’s Club, Ahmedabad in September, 2017 in partnership with FICCI and GCCI, Inner Sense emerged as one of the top contenders for the showcase. The businesses showcased in the event were hand-picked by our senior analysts, and only genuine, serious buyers and investors were extended invitation for the day. The primary vision of Business Buyer’s Club is to bring together genuine buyers and investors looking to close a transaction within the next 6 months. Inner Sense, along with 8 other credible, promising and deal-ready businesses were hand-picked from over 65 applications and were showcased to 45 buyers and investors from Ahmedabad, Vadodara and Rajkot.
The businesses were shortlisted based on the information made available, genuineness of the promoters, attractiveness of the business, value proposition of products and services, their command on the market, growth potential, investment rationale and overall health of the business. The showcase entailed a focused conversation between promoters and IndiaBizForSale.com team, alongside a pitch presentation. The event concluded with one-to-one meeting and networking over high tea that gave the buyers and investors an opportunity to interact with the promoters in person. Subsequent stages of the deal process for these matches were then facilitated by IndiaBizForSale.com. Inner Sense received 8 interests from investors at the end of the event, and eventually 2 of these of these investors from Business Buyer’s Club invested in the startup.
Inside View – What Makes ‘Inner Sense’ Unique?
Inner Sense is one of the first brands in the country to revolutionize healthy inner wear for women. As of 2017, they had already sold over 80,000 pieces via 18 e-commerce channels in India, and 4 overseas channels. There is a steady stream of positive reviews on all e-commerce portals, where it actively sells over 120 styles in diverse categories of women’s inner wear. Their advanced technology and custom-blended yarn gives their fabric 3 times more absorption power, making it odor-free, and is especially preferred by urban women living in hot, tropical climate. They have successfully set up a supply chain optimised production line and are poised to see exponential growth with the infusion of fresh capital.
Concluding Note
We at Indiabizforsale.com would like to congratulate the founding team of Inner Sense for successfully raising growth capital for business expansion. We are keen to see the business grow and serve more and more women with their highly functional and classy product range. Their success re-affirms our faith in the concept and model of Business Buyer’s Club and our dedicated team of analysts who painstakingly hand-pick the most promising businesses to make them transaction ready. Stay tuned to our blog for more such stories that inspire and engage!