Fashion brand Snitch has raised Rs 110 crore ($13.8 million) in series A funding round led by SWC Global and Ivycap Ventures. Several angel investors also participated in the funding round.
The brand will utilise the funds for expansion in talent, technology, and an offline retail strategy, building upon its already impressive market performance.
Commenting on the investment, Tuck Lye Koh, founding partner at SWC Global in a statement said, “Snitch’s impressive performance, especially in a challenging economic landscape, is a testament to its innovative business model and deep understanding of consumer needs. We are excited to support Snitch as they continue to redefine the fashion retail space, and we are confident that this partnership will propel both Snitch and the broader fashion industry forward.”
Siddharth Dungarwal, founder of Snitch added, “This funding round, especially in a challenging funding environment, is a testament to our resilience and the strength of our business model. Our focus on delivering exceptional value through our online platforms, coupled with our burgeoning offline presence, positions us well for future growth.”
Snitch claims to have achieved a turnover of Rs 100 crore in FY23. To fuel its growth, it plans to expand further by opening over 100 offline stores across India in the next 4-5 years.
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