India, April 2022: Louoj a startup based out of Singapore & India, a SaaS based bespoke clothing platform has raised Rs. 1.5 cr seed funding after becoming a Multi-Million-dollar company by private investors in India and Singapore, further bolstering the company’s position in the startup ecosystem. Founded by Bibhuti Dash, with Co-Founder team consisting of Priyanka Nanda, and Jyotirmaya Ghadai.
The seed fund round saw participation from new investors Debasish Patnaik (Mentor & Investors) and Mahavir Pratap Sharma (Mentor & Investors) from India. Louoj plans to invest funds for achieving the next milestones. The funding bolstered the existing investor group consisting of experienced investors, Priyadarshi Mishra (Passive Co-Founder & Investors) from Singapore, and Suren Kapse (Advisor) from the USA.
Louoj, the Singapore-based startup, enables bespoke clothing businesses to operate in a digital platform to customize clothes with 3D design app and operate effectively using enterprise software solutions. The fashion-tech firm has plans to build a B2C platform for buyers to shop customized bespoke clothing with ease. Louoj has distributed over 100 licenses to bespoke shops in India, Singapore and Thailand.
About Louoj
From 2014 Bibhuti Dash started few marketing companies in India and Singapore to test the market traction and product-market fit. After years of R&D & market testing, Louoj was founded in 2021 by Bibhuti Dash. The company aims to build a community of bespoke shops, product factories, fabrics suppliers and consumers across the world. The bespoke clothing industry has been witnessing tremendous growth in India, due to demand from consumers to opt for customized clothing with multitude of options compared to the traditional readymade clothing industry
About Investors
Debasish Patnaik
Debasish Patnaik, an early stage investor and entrepreneur with a passion in hospitality industry. He himself has founded multi-outlets restaurant chain and luxury hotel. His entrepreneurship journey has spanned for more than three decades. In 1984 his creative instincts led him to open an advertising agency, Creative Consultants Private Ltd, in Bhubaneswar. He created advertisements mainly for government-aided services such as tourism and handicrafts.
His mission to popularize Odia cuisine in the country has resulted in a seven-outlet restaurant chain. Debasish, Managing Director of Dalma Comforts & Entertainment Co. Pvt. Ltd, has opened restaurants exclusively dedicated to lip-smacking Odiya cuisine, at cities as far as Bengaluru, Delhi and Kolkata. Eventually, he managed to find around nine cooks and inaugurated his first restaurant “Dalma” at Madhusudhan Nagar in Bhubaneswar in May 2001. Between 2010 and 2014, Dalma opened five restaurants in Rourkela, Bhubaneswar, Puri, Delhi (in Odisha Niwas) and Kolkata. Alongside he inaugurated luxury hotel in Bhubaneswar called “the Crown”, which now in 2021 is added to the “SeleQtions” hotel brands by Indian Hotels Company.
In 1980 after completing his graduation from Buxi Jagabandhu Bidyadhar (BJB) College in Bhubaneswar, he did his Masters in Political Science and then an MBA from the Xavier Institute of Management, Bhubaneswar.
Priyadarshi Mishra
Experienced angel investor with more than 24 years’ experience in IT consulting and transformation around the globe. Track record of achieving exceptional results in Digital Transformation, Enterprise Systems Delivery, Programme Management, Intelligent Enterprise Transformation Program, Business Process, IT Strategy, PMO, Strategy, Pre-sales, and Management Consulting.
In addition to being an angel investor, he is managing director in a multinational IT Services company. Dynamic and proven leader who has mentored Louoj from its inception to scale into a multi-million-dollar company today. He completed his MBA at Rutgers, The State University of New Jersey-Newark after graduating from Indian Institute of Technology, Delhi.
Mahavir Pratap Sharma
Mahavir Sharma, a serial entrepreneur is part of umpteen businesses and social organizations and exudes passion in idea and early stage angel investing, leadership and mentoring.
He is the immediate past Chairman of TiE Global board of Trustees for the year 2020 (www.tie.org), a first Asian to achieve that position. He is also the Chairman of TiE’s new initiative for investing in idea and early stage startups across India, the TiE India Angels (TIA) and also the Chairman and co-founder of Rajasthan Angels (RAIN- www.rainjaipur.co.in ) and has been a very active angel for early and idea stage companies for the last many years.
A prolific speaker, who has had the honour of being the Chairman of the Carpet Export Promotion Council (CEPC- Under the aegis of the Ministry of Textiles, Government of India) and the privilege in the past to have been on TiE Global board for 8 years during which has chaired various committees and initiatives including being the Vice-Chair for the year 2019.
In addition to be an active Angel investor he is also in the Business of Carpets, Jewellery, Marketing and Branding in a career spanning 30+ years. And in his philanthropic activities has been supporting the performing and visual arts of Rajasthan by leading in many non-profit initiatives for the last over 2 decades.
