Select Brands raises Rs 6.5 crore in funding round

Indore-based Select Brands has raised Rs 6.5 crore ($7,78,390) in a pre-series A funding round led by Agra Gwalior Pathways and Airen Holdings.

Amit Kumat, Rajesh Patel, Sawan Laddha, We Founder Circle, IVY League Ventures and Jito also participated in the funding round.

Select Brands will utilise the funds to scale its growth and category expansion with an aim to become an umbrella brand for multiple direct-to-consumer brands in India.

Commenting on the funding, Agam Choudhary, co-founder of Select Brands in a statement said, “Basically, we are entering multiple categories by launching new brands and focusing on the growth of existing ones. Approximately 70 percent of the capital will be invested in existing sub-brand growth, which is Kyari, while around 30 percent will be allocated to new sub-brands.”

Agam Choudhary, co-founder of Select Brands added, “External capital infusion validates our business and strengthens our position in the market. Moreover, having investors who are experienced founders brings valuable insights to the table, aiding in the formulation of effective business strategies.”

Founded in 2022 by brothers Agam Choudhary and Saksham Jain, Select Brands is targeting Rs 50 crore in sales in the next fiscal year.