Bombay Shirt Company raises Rs 54 crore in funding round led by Singularity Ventures | Maqvi News

Bombay Shirt Company (BSC) has raised Rs 54 crore ($6.8 million) in a series B funding round led by Singularity Ventures. Mithun Sacheti, founder of Caratlane also participated in the funding round.

The company plans to invest the funds to expand its network of company-owned stores and strengthen its franchise model.

Additionally, the company will invest in diversification of portfolio, strengthening of supply chain, and distribution channels.

Commenting on the funding, Akshay Narvekar, founder CEO of Bombay Shirt Company in a statement said, “Working with a seasoned operator like Mithun is a great honour for us. He has built a once-in-a-generation direct-to-consumer brand in Caratlane, and we hope to apply those best practices here at BSC. We are excited to have him on in the next phase of our journey.”

Sandeep Murthy, partner at Lightbox (investor in BSC) added, “Bombay Shirt Company operates at the intersection of the biggest emerging trends in apparel. Consumers are looking for personalized experiences that are conveniently accessible and helpful for the environment. This capital infusion comes at an opportune time when the company is operating at healthy gross margins and poised for accelerated growth.”

Founded in 2012 by Akshay Narvekar, Mumbai-based Bombay Shirt Company offers online tailor-made shirts to its consumers. Currently, it has 20 stores across 10 cities and a user-friendly app interface.