Latest news with #IvyCapVentures
Time of India
4 days ago
- Business
- Time of India
Menswear fashion brand Snitch raises up to $40 million in round led by 360 One Asset
Existing investors, Singapore-based VC firm SWC Global, early-stage VC firm IvyCap Ventures, Ravi Modi Family Office (founders of Manyavar) and other angel investors participated. The funds will help scale offline retail stores to over 100 by the end of 2025, enter quick commerce, launch new product categories across apparel and lifestyle and pilot global markets. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Omnichannel menswear fashion brand Snitch has raised up to $40 million in a funding round led by 360 One Asset (formerly IIFL Wealth & Asset Management).The round also saw participation from existing investors Singapore-based venture capital firm SWC Global, early-stage venture capital firm IvyCap Ventures, along with Ravi Modi Family Office (founders of Manyavar) and other angel funds will be used to scale offline retail stores to over 100 by the end of 2025, enter quick commerce, launch new product categories across apparel and lifestyle and pilot international in 2020, Snitch operates in the fast fashion segment, where large companies such as H&M and Zudio also operate. Snitch, which sells a range of menswear, including shirts, T-shirts, jeans, jackets, sweaters, hoodies and accessories, currently operates around 59 physical stores across India.'We closed FY25 at over Rs 500 crore in net sales, with a strong omnichannel footprint and consistent growth… Our goal is to scale to over Rs 900 crore,' founder Siddharth Dungarwal told offline retail contributes to 50% of its revenue, followed by its website and app, which contribute 35%, with the remaining coming from FY24, the brand had reported revenue of Rs 243 crore, as per Tracxn. It is yet to file financial statements for 2024-25 with the Registrar of Companies (RoC).The Bengaluru-based company last raised funding in December 2023, when it got an infusion of Rs 110 crore in a round led by SWC Global and IvyCap on the investment, Chetan Naik, senior fund manager and strategy head - technology, 360 One Asset, said, 'Snitch is one of the fastest-growing, profitable, scaled D2C brands in India . It has built a unique playbook in Indian fashion, combining trend agility, digital-first execution, and omnichannel reach.''Our reinvestment in Snitch further confirms our conviction in its strong execution ability, capital-efficient growth, and sharp positioning in the men's fashion space,' Vikram Gupta, founder and managing partner, IvyCap Ventures.
Fashion Value Chain
4 days ago
- Business
- Fashion Value Chain
Snitch Raises $40M to Scale Up Retail & Go Global
Snitch, India's fastest-growing D2C menswear brand, has secured up to USD 40 million in a Series B funding round led by 360 ONE Asset. The investment also saw participation from IvyCap Ventures, SWC Global, the Ravi Modi Family Office (of Manyavar fame), and other angel investors. The capital will fuel Snitch's bold expansion goals: Growing its offline presence from 55+ to 100+ stores by end-2025 Entering quick commerce to offer fashion delivered within hours Launching new apparel and lifestyle categories Piloting global markets Siddharth Dungarwal, Founder & CEO, described this round as validation of the brand's vision—an Indian menswear brand built on speed, belief, and customer-centricity ready to compete on a global stage. With 120% YoY growth and a strong omnichannel model, Snitch is now preparing for international expansion and a future IPO. 360 ONE Asset's Chetan Naik praised Snitch's lean, design-led business model and ability to maintain profitability while scaling quickly, calling it a 'category-defining' brand in the making. IvyCap Ventures and SWC Global reaffirmed their commitment, citing Snitch's superior supply chain, tech agility, and ability to engage India's Gen Z and millennial male shoppers as reasons for continued support. Founded in 2020, Snitch has made its mark by blending drop-driven fast fashion with a digital-first strategy and rapid design cycles. Its previous ₹110 Cr Series A in 2023 laid the groundwork for tech upgrades and retail expansion. PwC India served as the exclusive financial advisor on the deal, while JSA acted as legal counsel.
Entrepreneur
4 days ago
- Business
- Entrepreneur
Snitch Raises Up to USD 40 Mn in Series B Led by 360 ONE Asset
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. 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.
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Business Standard
5 days ago
- Business
- Business Standard
Snitch raises $40 mn to expand men's fashion brand in India, overseas
Snitch, a rising direct-to-consumer (D2C) menswear brand in India, has secured up to $40 million in a Series B funding round aimed at accelerating its expansion plans. The round was led by Mumbai-based 360 ONE Asset, with continued support from existing investors IvyCap Ventures and SWC Global. New backers included the Ravi Modi Family Office — associated with ethnic wear giant Manyavar — as well as a group of angel investors. Founded to address the evolving fashion preferences of India's urban male consumers, Snitch has gained traction for its affordable, trend-forward apparel. The company plans to use the fresh capital to broaden its offline retail presence from more than 55 stores to over 100 by the end of 2025. It also intends to enter the quick commerce space, offering near-instant delivery of fashion items, and expand into new lifestyle and apparel categories. Additionally, Snitch is eyeing international markets, with pilot launches expected in the near future. 'Snitch has been a force redefining fashion making in India for the world. This fundraise is a backing to our belief that Indian fashion can move with speed, scale and confidence, and truly compete at a global stage,' said Siddharth Dungarwal, founder and chief executive officer (CEO) of Snitch. With 120 per cent year-on-year (Y-o-Y) growth, more than 55 stores, and strong loyal customer base, Dungarwal said the firm is stepping into a bigger league, building a world-class brand. 'As we gear up for global expansion and entering the public markets, this marks a bold step towards creating one of India's most iconic fashion stories,' added Dungarwal. Chetan Naik, senior fund manager and strategy head for technology at 360 ONE Asset, described Snitch as one of India's fastest-growing and profitable scaled D2C brands. He noted the company's distinctive approach to fashion retail, citing its agility in tracking trends, digital-first execution, and expanding its omnichannel presence. Naik highlighted Snitch's operating model, which combines rapid design cycles, end-to-end execution, and lean manufacturing. 'Snitch has demonstrated the rare ability to deliver high growth while maintaining strong unit economics and exceptional capital efficiency,' said Naik. He added, 'Its sharp focus on men's fashion, backed by a scalable offline model, positions it well to become a category-defining brand.' Vikram Gupta, founder and managing partner at IvyCap Ventures, said the firm's reinvestment in Snitch reflects its continued confidence in the brand's execution capabilities, capital-efficient growth, and distinct positioning within the men's fashion segment. He noted that with a targeted focus on Gen Z and millennial consumers, along with a scalable omnichannel strategy, Snitch is on a strong path towards category leadership. Tuck Lye Koh, founding partner, SWC Global, said Snitch continues to demonstrate strong supply chain management as well as high focus on customer experience. He said over the last 18 months, with the offline expansion, Snitch has established itself into a truly omnichannel brand. 'We are looking forward to our continued partnership with the team to grow Snitch into a leading men's apparel brand in the country,' said Tuck Lye Koh. Founded in 2020, Snitch has emerged as a standout in India's D2C fashion market. It previously raised Rs 110 crore in its Series A round in December 2023, which laid the foundation for its offline expansion, tech stack, and product depth. Since then, it has doubled revenue, strengthened brand equity, and built a community-first approach to fashion for Gen Z and millennial men. PwC India Investment Banking team acted as the exclusive financial advisor to Snitch on the successful closure of Series B round. JSA was the legal counsel to Snitch on this transaction.
Time of India
29-05-2025
- Business
- Time of India
Menswear brand Snitch raises Rs 278 crore from 360 One Asset, others
Omnichannel menswear fashion brand Snitch has raised Rs 278 crore in a round led by 360 One Asset (formerly IIFL Wealth & Asset Management). The round also saw existing investors SWC Global, a Singapore-based venture capital firm, and IvyCap Ventures, an early-stage venture capital firm, participate. The company's board has passed a resolution to issue 1,755 compulsorily convertible preference shares at a premium of Rs 15,89,385 each to raise Rs 278.93 crore, as per filings sourced from business intelligence platform Tofler. 360 One Asset has invested Rs 220 crore, while SWC Global and IvyCap Ventures have invested Rs 29 crore each. Founded in 2018, Snitch operates in the fast fashion segment, where large companies such as H&M and Zudio also operate. Snitch, which sells a range of menswear, including shirts, T-shirts, jeans, jackets, sweaters, hoodies and accessories, currently operates around 59 physical stores across India. Live Events Earlier, Snitch founder Siddharth Dungarwal had told ET that the company expects offline sales to contribute around one-third of its projected revenue of over Rs 600 crore for the financial year that ended in March 2025. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories In FY24, the brand had reported revenue of Rs 243 crore, as per Tracxn. It is yet to file financial statements for 2024-25 with the Registrar of Companies. In April, Dungarwal revealed that the brand's revenue had grown 2.2 times in FY25 over the previous year, while profitability had increased fivefold. 'Plan for FY26 is about setting even bigger goals: 2x revenue growth—again, 50 more stores in the next 6 months, expanding into new categories—pluswear, bags, footwear, sunglasses and more,' Dungarwal had said in a post on LinkedIn. The Bengaluru-based company last raised funding in December 2023, when it got an infusion of Rs 110 crore in a round led by SWC Global and IvyCap Ventures.
