Lifestyle brand Mad(e) In India to raise Rs 30 crore; plans to expand to US, Dubai

Mad(e) In India, a lifestyle brand celebrating Indianness through its products_,_  plans to raise Rs 30 crore  as part of Series A funding by end of 2015. It is planning to use the funding to scale up and augment its market presence and operations besides achieving other critical scale points. [caption id=“attachment_2369716” align=“alignleft” width=“380” class=" “] Logo[/caption] Launched in 2013, the company headquartered in Mumbai started with a Facebook blog in March 2010. Later in January 2013, it was formally launched and has three consumer categories- souvenirs, gifting and lifestyle accessories. It’s gross merchandise value  stands at  Rs 2.26 crore. It has plans to become a Rs 100 crore company in the next three years, according to a company press release. The brand that operates on a hybrid business model - both online and offline, has extensive expansion plans. As part of its growth strategy, by 2020 the brand plans to open 100 new outlets and be present across many multi-brand outlets across India. With its initial presence in Singapore, the brand plans to establish its footprints in Dubai and the US in the current year. Currently, apart from an online play, it has three of its own stores, a presence across 21 multi-brand outlets, including international airports. Pankaj Acharya, Founder and CEO, said**,** “We want to take the company beyond Indian boundaries. We are planning 200 percent growth this year as well. We strongly feel that our hybrid model will play a crucial role in our success and we have identified this at an early stage that has now become a sought after trend among retailers and e-tailers”, he said. .