Mumbai, Jun 19 (PTI) Textile industry-focused marketplace Yarn Bazaar on Monday said it has raised Rs 15 crore in a funding round led by Rajiv Dadlani Group and Equanimity Ventures.

The round also saw participation of Arihant Patni, Ekta Kapoor of Balaji Films, Ritesh Malik of Innov8, Aakrit Vaish of Haptik, and Sumeet Srivastava of Spocto, as per a statement.

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The company will deploy the funding to hire a senior leadership team, expand operations, and strengthen technology.

The 2019-established company is seeking to transform the fragmented USD 200 billion textile industry, by solving supply chain and working capital constraints.

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It has completed transactions of Rs 370 crore and the average order value is Rs 19 lakh, it said.

"They have immense potential and are also well poised, with their unique business model and the potential of the large textile market, ripe for disruption, to be a leading brand, in the yarn and textile industry," Dadlani said.

The company pitches as an online B2B managed marketplace taking care of all yarn-related requirements, including discovery, trading, financing, logistics, advisory, and market intelligence services.

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