Total amount raised
₹1.1 Billions
Latest funding date
Location
Snitch has successfully raised ₹1,100,000,000 in its Series A funding round, attracting investments from IvyCap Ventures and SWC Global. The brand specializes in men's fast fashion, offering a diverse range of clothing items primarily through its online platform.
Keep reading to explore the intricacies of Snitch's fundraising journey and the investors backing this innovative platform.
What Is Snitch?
Founded in 2018, Snitch is a men's fast fashion brand based in Bangalore, Karnataka, India. The company was established by Chetan Siyal, Naveen Jain S L, and Siddharth Dungarwal. With a team of 51-100 employees, Snitch offers a wide range of men's clothing and accessories, primarily through its online platform.
How Much Funding Has Snitch Raised?
- Angel Round
- Amount Raised: ₹15M
- Date: January 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely used to support early-stage growth and operations.
- Series A
- Amount Raised: ₹1.1B
- Date: December 2023
- Lead Investors: IvyCap Ventures, SWC Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up talent and technology and build an offline retail strategy.
Total Amount Raised: ₹1.115B. Current Valuation: Not publicly disclosed.
Key Investors
- IvyCap Ventures
- Details: IvyCap Ventures is an Indian venture capital firm that invests in early to growth-stage companies. The firm is known for its focus on nurturing innovative startups with strong growth potential.
- Investment Focus Areas: Technology, Healthcare, Consumer Products, Education, Fintech.
- Notable Investments: Purplle, Clovia, Elucidata.
- SWC Global
- Details: SWC Global is a Singapore-based venture capital firm. The firm is recognized for its investments in companies with innovative business models and a deep understanding of consumer needs.
- Investment Focus Areas: Technology, Consumer Goods, E-commerce.
- Notable Investments: Not publicly disclosed.
- Peyush Bansal
- Details: Peyush Bansal is the founder of Lenskart, a leading eyewear brand in India. He is also known for his role as an investor on the Indian version of the television show "Shark Tank."
- Investment Focus Areas: E-commerce, Consumer Goods, Technology.
- Notable Investments: Lenskart, DailyObjects, Feedo.
- Aman Gupta
- Details: Aman Gupta is the co-founder of Boat, a popular consumer electronics brand in India. He has gained recognition for his strategic investments in various startups.
- Investment Focus Areas: Consumer Electronics, E-commerce, Technology.
- Notable Investments: Boat, WickedGud, Shiprocket.
- Anupam Mittal
- Details: Anupam Mittal is the founder of Shaadi.com, one of India's leading matrimonial websites. He is also a prominent angel investor and entrepreneur.
- Investment Focus Areas: Technology, Consumer Services, E-commerce.
- Notable Investments: Shaadi.com, Ola, Druva.
What's Next for Snitch?
Snitch is poised to capitalize on a significant opportunity by expanding its offline retail presence, with plans to open over 100 stores across India in the next four to five years. This move is expected to enhance its market reach and complement its strong online sales, positioning Snitch as a formidable player in the fast fashion industry.
Given the successful Series A funding round, future fundraising opportunities seem promising. The company may attract further investments to support its ambitious growth plans and technological advancements. However, Snitch will need to navigate a competitive landscape and maintain its innovative edge to sustain its growth trajectory.
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