Indian fashion startup Beyoung secured an disclosed “strategic investment” from the Abu Dhabi royal family, according to a press release yesterday. Beyoung plans to channel the funds into expanding outside India, eyeing a target of launching 300 stores globally over the next three years.

What they said: “The strategic investment in Beyoung aligns with our long-term vision of supporting the Indian apparel industry and fostering the creation of international brands. We believe in Beyoung’s potential to not only excel in the domestic market but also emerge as a global fashion leader,” said Royal Office Executive Director Zulfiquar Ghadiyali.

About Beyoung: Founded in 2018 in Udaipur, India, Beyoung offers direct-to-consumer (D2C) everyday fashion to over 3 mn customers from India’s emerging cities. The Indian startup — valued at INR 1.5 bn (AED 66 mn) — plans to up its valuation to INR 6 bn (AED 265 mn) in the next three years.

OTHER INVESTMENT NEWS-

DFDF invests inPartech’s second Africa fund close: Dubai Future District Fund (DFDF) participated in global tech investment firm Partech’s close of its second Africa-focused fund, dubbed Africa II fund, it said in a statement (pdf). The final closing was oversubscribed, hitting the fund’s hard cap of USD 300 mn — i.e. the maximum capital that it aims to raise. DFDF’s exact investment was not disclosed.

Where’s the money going? Africa II will invest in tech startups across Africa with initial tickets of USD 1-15 mn in seed to series C funding.The fund has so far deployed funds in three companies and has plans to expand its portfolio to house over 20 companies across the continent.

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