Shark Tank India Star Snitch Hits Rs 2,500 Crore Valuation After Rs 340 Crore Series B Funding
Bengaluru-based menswear startup Snitch, which first captured attention on Shark Tank India Season 2, has achieved a major milestone by raising Rs 340 crore (approximately $40 million) in its Series B funding round—pushing its valuation past Rs 2,500 crore.
The funding was led by 360 One Asset, with participation from IvyCap Ventures, SWC Global, the Ravi Modi Family Office (investors in Manyavar), and several prominent angel investors. This marks a significant leap for Snitch, coming more than a year after it raised $13 million in a Series A round in December 2023.
Founded in 2020 by Siddharth Dungarwal, Snitch has built a strong identity as a trend-first fashion brand catering to Gen Z and millennial men. Its fast-fashion model—based on lean manufacturing, weekly product drops, and tight inventory cycles—has allowed it to scale rapidly while remaining profitable, achieving 120% year-on-year growth.
The new capital will help fuel the brand’s expansion plans, including growing its retail footprint from 55 to 100 stores by the end of 2025, entering quick commerce, and exploring international markets.
Speaking on the fundraise, founder Siddharth Dungarwal said,
“Built on belief, speed and an obsession with our customer, Snitch has been redefining the fashion game in India. This fundraise validates our vision that Indian fashion can be fast, scalable, and globally competitive.”
Investors expressed strong confidence in Snitch’s strategy and execution.
Chetan Naik, Senior Fund Manager at 360 One Asset, called Snitch “one of the fastest-growing profitable D2C brands in India,” while Vikram Gupta, Founder of IvyCap Ventures, emphasized their continued belief in Snitch’s capital-efficient growth.
Tuck Lye Koh, Founding Partner at SWC Global, added,
“Snitch’s offline expansion has transformed it into a truly omnichannel brand. We’re excited to support its journey toward becoming a leading men’s apparel brand in India.”
Snitch originally gained widespread visibility after its appearance on Shark Tank India, where it secured Rs 1.5 crore from all six sharks at a Rs 100 crore valuation. In just over a year, it has grown exponentially, closing FY24 with Rs 241 crore in revenue and a profit of Rs 4.39 crore.
This growth story reflects the growing strength of India’s D2C ecosystem and the potential of homegrown brands to scale rapidly with the right blend of innovation, execution, and investor backing.
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