India, Nov. 27 -- Women-focussed fast-fashion brand NEWME is in discussions with investors to raise $12 Mn (about INR 107.3 Cr) in its Series B funding round, sources told Inc42.

Existing investors Accel and Fireside Ventures will double down on their investments, while a new investor will join the startup's board, the sources added.

"While it was last valued at $75 Mn, the new funding is expected to value NEWME at around $100 Mn to $120 Mn," one of the sources said.

NEWME's regulatory filings confirmed the development. While Accel and Fireside Ventures will participate in the funding round, New York-based investment firm Point72 Ventures will be the new investor joining the startup's cap table.

With this investment, Accel and Firesid...