Newme a zen-g focused brand has raised $18 million in its Series A round led by Accel with participation from existing investors including Fireside Ventures and AUM Ventures.

Startup had raised $5.4 million in January this year. It also raised an undisclosed round from investors such as Aum Ventures, 2am VC and All In Capital in November 2022.

Newme will utilize new funds to expand its omnichannel presence and strengthen supply-chain technology, the company said in a press release.

The Company was founded by Shivam Tripathi, Sumit Jasoria, Vinod Naik . Company sells self-branded clothing across both online and offline outlets.

Newme opened its first retail store in Bengaluru in July last year and has expanded to 5 new cities with 6 retail outlets. In the next 12-18 months, Firm aims to open 40-50 stores across 20 key cities, including underserved regions like Guwahati, Shillong and Imphal.

Over the past 18 months, the company claims to have witnessed around 9X growth in revenue and has projected at least three-fold growth this year.

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