Goat Brand Labs raises $21 million from BlackRock, others

Goat Brand Labs, a leading direct-to-consumer (D2C) house of brands has raised $21 million (Rs 175 crore) in a funding round led by BlackRock, Mayfield, NB Ventures and others.

The company plans to utilise the funds to strengthen its brand portfolio with new acquisitions and fuel the growth of its existing brands through omnichannel expansion.

Goat Brand Labs portfolio of brands currently comprises of Chumbak, Truebrowns, The Label Life, Pepe Jeans Inner Fashion, Voylla, Petcrux, Nutriglow among others.

Commenting on the funding, Rishi Vasudev, co-founder of Goat Brand Labs in a statement said, “We are seeing strong tailwinds in the D2C space. Given the strength of our brands, an omnichannel play is panning out. We will use the capital from this round largely for growth – expanding our business in quick commerce, exports, and offline stores.”

“Our brands are seeing good profitable scale-up with a couple of them just a few quarters away from the Rs 100 crore annual recurring revenue (ARR) mark. The company is all set to hit a profitable revenue of over Rs 500 crore ARR in the next 9-12 months,” he added.

Rishi Vasudev and Rameswar Misra launched Goat Brand Labs as a direct to customer brand aggregator in May 2021 with an aim to take Indian brands to global audiences.