Men’s fashion clothing brand Snitch has raised about $13 million (Rs 110 crore) in its Series A funding co-led by SWC Global and IvyCap Ventures, per a company statement.
The investment, supported by key angel investors, will catalyse Snitch’s expansion in talent, technology, and an offline retail strategy, the startup said in a statement.
Set up in January 2019 by Siddharth R Dungarwal, Snitch manufactures and sells men’s clothing. While the company started its journey as an offline retail brand, it pivoted to an online model during the COVID-19 pandemic.
“This funding round, especially in a challenging funding environment, is a testament to our resilience and the strength of our business model,” Dungarwal said.
The brand has opened its first store in Bangalore. It plans to have 100+ offline stores across India in the next 4-5 years. The company achieved a turnover of Rs 100 crore in FY23, exceeding expectations of more than 100% growth in FY24, the statement added.
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