Snitch Raises Up to USD 40 Mn in Series B Led by 360 ONE Asset

Entrepreneur

2 days ago

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Snitch, the Bengaluru-based D2C menswear disruptor, has raised up to USD 40 million in its Series B funding round led by 360 ONE Asset.
The round also saw participation from existing backers IvyCap Ventures and SWC Global, alongside the Ravi Modi Family Office (founders of Manyavar) and other prominent angel investors.
In December 2023, Snitch raised INR 110 crore in its Series A funding round.
The fresh infusion of capital is set to power Snitch's next growth phase with four core objectives: scaling offline retail from its current 55+ stores to over 100 stores by end of 2025, entering quick commerce with rapid delivery capabilities, expanding into new apparel and lifestyle categories, and piloting entry into international markets.
Founded in 2020 by Siddharth Dungarwal, Snitch has swiftly become a cult brand in India's fashion landscape, known for its trend-first, drop-driven collections, released weekly to mirror the pulse of evolving men's fashion. With a unique omni-channel strategy blending e-commerce scale with physical retail touchpoints, Snitch is positioning itself as the fastest fashion brand tailored for Gen Z and millennial men.
"Built on belief, speed, and an obsession with our customer, Snitch has been a force redefining fashion making in India for the world," said Siddharth Dungarwal, Founder and CEO. "This fundraise is a backing to our belief that Indian fashion can move with speed, scale and confidence, and truly compete on a global stage. As we gear up for international expansion and public markets, this is a bold step towards creating one of India's most iconic fashion stories."
Snitch's sharp digital-first execution, lean manufacturing, and full-stack control have enabled it to maintain strong unit economics and capital efficiency while clocking 120% YoY growth.
"Snitch has built a unique playbook in Indian fashion," said Chetan Naik, Senior Fund Manager at 360 ONE Asset. "Its distinctive model and focus on men's fashion position it to become a category-defining brand."
IvyCap Ventures' Vikram Gupta added, "Our reinvestment confirms our conviction in Snitch's execution and capital-efficient growth." SWC Global's Tuck Lye Koh emphasised the brand's supply chain strength and customer-first approach.
With PwC India advising and JSA as legal counsel, Snitch's Series B marks a pivotal leap forward in its journey—from a D2C startup to a potential global fashion powerhouse.