Women-focused fast-fashion brand Newme has begun its Series B fundraise with Rs 108.66 crore (around $12 million), co-led by existing investors Accel India and Fireside Ventures, alongside new investor Point72 Ventures. The Bengaluru startup continues its aggressive growth trajectory as it scales across online and offline channels.
Funding Structure and Valuation
As per filings with the Registrar of Companies, Newme’s board approved the issuance of 3,447 Series B CCPS at Rs 3,15,231 per share. Accel and Fireside will each invest Rs 36.94 crore, while Point72 Ventures will contribute Rs 26.38 crore. Additional participation will come from AUM Ventures, 2am Ventures, and A, Paul SRC SPV V, LLC.
With this round, Newme’s valuation is projected to rise 41% to Rs 988 crore ($112 million), up from Rs 700 crore during its Series A round in July 2024.
Brand Growth and Market Positioning
Founded by Shivam Tripathi, Sumit Jasoria, Himanshu Chaudhary, and Vinod Naik, Newme targets India’s Gen Z audience through a fast-fashion model designed for rapid design cycles, trend responsiveness, and affordability. Its app has crossed 7 million downloads, and the company now operates 16 high-street stores across Bengaluru, Mumbai, Delhi, Chandigarh, Pune, Hyderabad and other urban centres.
Newme has raised over $23 million to date. Following the latest round, Fireside Ventures will become its largest external investor with a 19.27% stake, followed by Accel India at 17.06%, while Point72 Ventures will hold 2.67%. The founding team retains 31.45% ownership.
Financial Performance and Sector Momentum
Newme reported Rs 48.28 crore in revenue for FY24 with a loss of Rs 35.75 crore, and FY25 figures remain undisclosed. Fast-fashion continues to attract investor interest, with Slikk, Snitch, and KNOT among the category’s recent fundraisers.
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