Quince Raises $500 Million Series E to Expand Its AI-Driven…

Team S · 2026-03-12T13:31:53.000Z

Consumer technology platform Quince has secured $500 million in a Series E funding round, pushing the company’s post-money valuation to approximately $10.1 billion. The round was led by ICONIQ, with participation from Basis Set Ventures, Wellington Management, Wndrco, MarcyPen Capital Partners, Baillie Gifford, Notable Capital, and DST Global. Founded in 2018 by Sid Gupta, Zunu Mittal, and Sourabh Mahajan, Quince operates a manufacturer-to-consumer (M2C) model, connecting specialized factories directly with customers to remove traditional retail markups and supply-chain inefficiencies. The company initially gained traction in categories such as cashmere apparel, where material quality is measurable. Over time, it expanded into additional product segments including fashion, accessories, home goods, and lifestyle products, serving millions of customers globally. At the core of Quince’s strategy is its AI-powered supply chain and demand-forecasting system, which predicts product demand weekly at the SKU and size level. This allows the company to begin with small-batch production before scaling manufacturing, reducing overproduction and minimizing inventory waste common in traditional retail models. By working directly with manufacturers and eliminating intermediaries, Quince aims to offer premium-quality products at significantly lower prices compared to traditional retail brands. The approach has supported rapid growth, with the company surpassing $1 billion in annual revenue and maintaining strong repeat customer demand. The newly raised capital will help Quince accelerate global expansion, strengthen its AI-driven supply chain infrastructure, and broaden its product categories across international markets.

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Quince Raises $500 Million Series E to Expand Its AI-Driven… | Newnex