Indian lifestyle to apparel company Chumbak Design Pvt Ltd. has raised 70 crore rupees ($10 million) in Series D funding round led by private equity firm Gaja Capital.
With a further capital infusion, Gaja, which was joined in the funding by Matrix Partners India, has boosted its stake in Chumbak Design to 35 percent.
Chumbak Design is planning to use the new funds from the round to extend its presence in tier 2 cities and increase the number of its retail stores.
More so, the company, which in the period 2017 to 2018 booked $6 million in revenue, will also use the proceeds to enter newer product categories such as beauty and personal care.