Lahore, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Global revenues of the South Asian ethnic wear market are projected to reach $129 billion by 2030, with nearly $46 billion driven by digital spending. Propelling this growth, fashion marketplace LAAM is today announcing a $5.5m funding round as it seeks to bring South Asian fashion to everyone, everywhere.
The seed funding round was led by Disrupt.com and Zayn VC, with participation from Graph Ventures, Mentors Fund, and tech leaders from Oracle, Microsoft, Google, and Salesforce among others.
Fashion marketplace LAAM is bringing South Asian fashion to everyone, everywhere.
With this funding, LAAM will amplify its efforts to spotlight the region’s finest artisans and showcase its diverse ethnic fashion products on a global stage. With sales spanning 100+ countries and an ever-growing catalog, LAAM’s rising international presence is a testament to the strong connection that it has developed with fashion enthusiasts worldwide. LAAM’s top five markets include the US, Canada, the Middle East and Pakistan.
“At LAAM, we bring the best of South Asian fashion to the world,” said Arif Iqbal, CEO of LAAM Technologies. “At LAAM, we’re combining cutting-edge tech with the timeless appeal of South Asian craftsmanship, creating a seamless connection between global consumers and authentic ethnic fashion. This funding empowers us to scale our platform, enhance our AI-driven discovery and logistics capabilities, and continue empowering local sellers to thrive in the digital age.”
LAAM has emerged as a leading platform for South Asian fashion, offering a curated catalog of over 100,000 articles from 1,000+ brands—the largest collection of its kind globally. By bridging cultural heritage with cutting-edge e-commerce, LAAM has become a key player in empowering South Asian designers and artisans while supporting the livelihoods of over 10,000 families.
LAAM has developed a robust e-commerce infrastructure, encompassing supply chain solutions, seller business management software, and warehousing capabilities. Beyond its marketplace business, LAAM Technologies now offers this proprietary technology and infrastructure as a platform called Octane, designed to help businesses establish an online presence and expand globally. Currently supporting over 50 businesses, Octane aligns with LAAM’s mission to empower South Asian sellers and is positioned for significant growth in the coming year.
Through its efforts, LAAM empowers small and medium-sized sellers in Pakistan to access international markets, making South Asian fashion more accessible while celebrating its rich heritage.
LAAM has developed a robust infrastructure, encompassing supply chain solutions, seller business management software, and warehousing capabilities.
“LAAM’s ability to elevate South Asian fashion onto the global stage while empowering local artisans and sellers is commendable. We believe LAAM has a unique opportunity to transform how South Asian fashion is perceived and accessed globally. We’re proud to support their journey” said Faisal Aftab, Managing Partner at Zayn VC.
The success of LAAM is deeply rooted in its exceptional founding and leadership team, which brings a unique blend of global tech expertise and an intimate understanding of the South Asian fashion ecosystem. Arif Iqbal, LAAM’s CEO, has a rich career spanning roles at Meta, Pinterest, and Microsoft, where he honed his skills in scaling products globally. Ahmed Muneeb, the company’s CTO, boasts extensive experience at Oracle and Microsoft, driving technological excellence. Bilal Khokhar, who leads product development, was previously steering multiple product areas at Amazon, showcasing his deep expertise in building scalable enterprise solutions.
On the fashion front, Amir Iqbal and Sahar Arif bring more than two decades of experience. They leverage their deep knowledge of the South Asian fashion landscape to empower artisans and brands globally. This combination of tech prowess and fashion expertise uniquely positions LAAM to transform how South Asian fashion reaches global audiences.
Aaqib Gadit, Founding Partner at Disrupt.com, said, ““We are excited about the massive opportunity LAAM aims to unlock. Their exceptional team, robust technology stack, and focus on customer obsession will propel them to new heights. We’re proud to be part of their journey and look forward to supporting them as they scale South Asian fashion globally”.”
From millions of customers worldwide to the families and communities behind the fashion, LAAM is a platform for impact. It connects the world to South Asian craftsmanship, creating opportunities for sellers while preserving cultural heritage.
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About LAAM
LAAM is a tech-enabled South Asian fashion marketplace that offers global consumers unparalleled access to a diverse range of high-quality ethnic fashion while transforming how South Asian sellers leverage technology to reach and thrive in global markets.
About Disrupt.com
Disrupt.com is a leading venture builder and investor that partners with ambitious entrepreneurs to build, scale, and invest in high-potential, globally focused technology startups. With a focus on transformative technologies and innovative business models that reshape industries - the firm is dedicated to providing entrepreneurs hands-on expertise and navigating the challenging path to scale.
About Zayn VC
Zayn Venture Capital (Zayn VC) is a prominent US- and Cayman-domiciled venture fund specializing in early-stage investments in Pakistan. Recognized as a leading VC fund in the country, Zayn VC is dedicated to supporting innovative startups and fostering entrepreneurial growth.
About Graph Ventures
Graph Ventures is a Silicon Valley-based venture capital firm focused on early-stage investments. With a commitment to backing visionary founders, the firm supports innovative companies shaping the future across diverse industries.
About Mentors Fund
Mentors Fund is a Silicon Valley-based venture capital firm that invests in capital-efficient startups that aim to digitally disrupt traditional businesses.
For further information please contact the LAAM press office: Bilal Mahmood on b.mahmood@stockwoodstrategy.com or +44 (0) 771 400 7257.
