4 days ago
Snitch raises $40 million in series B funding round led by 360 One Asset
Snitch, a direct-to-consumer menswear brand has raised around $40 million (Rs 341 crore) in series B funding round led by 360 One Asset to fuel offline scale-up, quick commerce, and global ambitions.
The funding round also saw participation from existing investors Ivycap Ventures and SWC Global, along with Ravi Modi Family Office and other angel investors.
The fresh capital will be used for the brand's aggressive next phase of growth which includes offline expansion, entry into quick commerce, international expansion and product portfolio diversification.
Commenting on the funding, Siddharth Dungarwal, founder CEO of Snitch in a statement said, '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. With 120% YoY growth, 55+ stores with strong unit economics, and strong loyal customer base, we're stepping into a bigger league, building a world-class brand with India at its heart and agility at its core.'
Chetan Naik, senior fund manager at 360 One Asset added, 'With a distinctive operating model that blends weekly design launches, full-stack execution, and lean manufacturing, Snitch has demonstrated the rare ability to deliver high growth while maintaining strong unit economics and exceptional capital efficiency. We are excited to back Siddharth and the Snitch team as they lead the next phase of fashion innovation from India.'
Founded in 2020 as a direct-to-consumer brand with its website, Snitch currently has over 50 stores across 20 cities in India.
