MICROCAPITAL BRIEF: Creation Investments Leads $30m Debt, Equity Funding Round for ReshaMandi, B2B App for Silk Farms, Manufacturers, Retailers in India

ReshaMandi, business-to-business (B2B) marketplace app serving 35,000 farms, manufacturing businesses and retailers active in the silk industry, recently raised USD 30 million in debt and equity. Creation Investments, a US-based alternative investment manager, led the funding round. Two India-based venture capital firms, 9Unicorns and Venture Catalysts, are among the first-time equity investors in ReshaMandi. Omnivore, another venture capital firm based in India, increased its position in ReshaMandi during this round of funding. The debt investors, which are also based in India, include Alteria Capital, Innoven Capital, Northern Arc and Stride Ventures. The sizes of each investment and the amount of shares taken by the equity investors remain confidential.

ReshaMandi’s CEO, Mayank Tiwari, noted, “This round of funding will allow us to expand into newer territories and operationalize our R&D [research and development] work.”

Tyler Day, a Partner at Creation Investments, stated, “With India producing 30 percent of the world’s silk and still needing more to meet demand, companies like ReshaMandi can make the whole silk supply chain run more efficiently…from farmers and weavers to clothing manufacturers and buyers.”

ReshaMandi was founded in 2020 in Bangalore, India. In March 2021, the firm was valued at USD 5.2 million when it raised USD 1.74 million during its seed funding round.

Founded in 2007, Creation Investments manages funds and direct investments “for individual, family office and institutional investors… [to] provide access to capital to the unbanked and underbanked to engage in small-business activity.” In addition to the US, the firm has offices in India and Mexico.

By Zachary DeLuca, Research Associate

Sources and Additional Resources

ReshaMandi press release
https://read.reshamandi.com/reshamandi-raises-us-30-million-in-indias-largest-series-a-funding-for-a-b2b-marketplace-led-by-creation-investments/

ReshaMandi homepage
https://reshamandi.com/

ReshaMandi app
https://play.google.com/store/apps/details?id=com.reshamandi.mobile

Creation Investments homepage
https://creationinvestments.com/

Alteria Capital homepage
https://alteriacapital.com/

Innoven Capital homepage
https://www.innovencapital.com/

Northern Arc homepage
https://www.northernarcinvestments.com/

Omnivore homepage
https://www.omnivore.vc/

Stride Ventures
https://strideventures.in/

Venture Catalysts homepage
https://venturecatalysts.in/