Newme, a fast fashion brand focused on Gen-Z consumers, has secured $18 million in its Series A funding round, led by Accel, with participation from existing investors including Fireside Ventures and AUM Ventures. This follows a $5.4 million raise in January this year and an earlier undisclosed round in November 2022 from investors such as AUM Ventures, 2am VC, and All In Capital.

The Bengaluru-based startup, founded by Shivam Tripathi, Sumit Jasoria, and Vinod Naik, plans to utilize the new funds to expand its omnichannel presence and enhance its supply-chain technology. Newme, which sells self-branded clothing online and through retail outlets, opened its first store in Bengaluru in July last year. Since then, it has expanded to five new cities, operating six retail outlets.

In the next 12-18 months, Newme aims to open 40-50 new stores across 20 key cities, including underserved regions like Guwahati, Shillong, and Imphal. The company has reported approximately 9X revenue growth over the past 18 months and projects at least a three-fold increase this year.