Upaya Social Ventures Invests In I Was A Sari To Drive Jobs And Sustainability In The Global Fashion Sector

Press Release

Aug 5

Written By Upaya

Bangalore, India | August 6, 2025

Upaya Social Ventures is excited to announce its latest investment in I was a Sari, a Mumbai-based circular fashion label operated by 2nd Innings Handicrafts Pvt. Ltd. This pioneering social enterprise transforms preloved saris into contemporary apparel, accessories, and lifestyle products, creating dignified jobs for underprivileged women while advancing sustainable fashion.

Founded in 2014 by Stefano Funari, I was a Sari has grown into a globally recognized brand at the intersection of circularity, women’s empowerment, and craftsmanship. Stefano and his co-founders, Arun Jothi and Bhavesh Gupta, bring together rich experience across luxury fashion, global finance, and sustainability, with deep expertise in artisanal production and business transformation. Their combined vision has shaped I was a Sari into a purpose-driven enterprise that delivers social and environmental impact through every handcrafted piece.

Upaya’s investment will support the company’s next phase of growth—expanding its artisan workforce, strengthening its omnichannel strategy, and enhancing production capacity. The funding will also fuel the launch of new product lines and advanced training programs for women artisans from underserved communities.

“At 2nd Innings, we believe that discarded materials and overlooked communities both deserve a second chance. Through our brand I was a Sari, we’ve spent a decade building dignified livelihoods for marginalized women, growing organically to prove that social business can be both impactful and resilient,” said Stefano Funari, Founder and Managing Director of 2nd Innings Handicrafts Pvt. Ltd. “As we now enter a phase of accelerated growth, we sought a partner who shares our values and long-term vision. Upaya stood out immediately for their deep commitment to dignified work and social change. Their support marks an exciting new chapter in our journey.”

This investment follows I was a Sari’s successful participation in the Circular Innovation Cohort 2025 under the Dignified Jobs Accelerator. This cohort was led by Upaya Social Ventures in partnership with Global Business Inroads and rePurpose Global and with support from Aspen Network of Development Entrepreneurs (ANDE) at the Aspen Institute and IKEA Foundation. By advancing from Level 1 to Level 2, the company showcased strong impact potential, market readiness, and a clear path to scale, validating the accelerator’s mission to equip early-stage enterprises for investment.

“I was a Sari embodies the kind of innovation we strive to back, where impact and inclusion are central to the business model,” said Ankur Mehta, Director of Investments & Portfolio at Upaya Social Ventures. “We’re proud to support their journey as they create dignified work and bring circular fashion to the forefront while creating a strong global brand from India ”

This marks Upaya’s 44th investment in early-stage, mission-aligned businesses that generate jobs for people living in extreme poverty. With this partnership, Upaya continues to champion inclusive, climate-conscious enterprises creating lasting change in underserved communities.

ABOUT UPAYA SOCIAL VENTURES:

Upaya Social Ventures is building a dignified economy by providing investment and support to early-stage businesses creating sustainable livelihoods for people living in the most extreme poverty.

Upaya’s award-winning impact-first model seeks out and supports oft-overlooked companies creating work that is safe, stable, inclusive, and rewarding—generating a transformative impact on families, communities, and economies.

Since its founding in 2011, Upaya’s portfolio companies have created over 50,000 dignified jobs across India. Please visit upayasv.org for more information.