- eCommerce startup GOAT Brand Labs has raised $50 million in a Series A round that included debt and equity.
- With three rounds of funding the startup has raised $106 Mn so far.
- In the coming years, the D2C market in India is expected to grow to $100 Mn, with close to 1K D2C brands.
eCommerce startup GOAT Brand Labs has raised $50 million in a Series A round that included debt and equity. New and existing investors have participated in the round, including Winter Capital, 9Unicorns, Venture Catalysts, Vivriti Capital, and Oxyzo.
With these funds, the startup plans to acquire and scale more brands and is already in conversation with 12 brands.
This Bengaluru-based startup earlier raised $36 Mn from Tiger Global, Flipkart Ventures, Mayfield, Nordstar and Better Capital in July of 2021. Three funding rounds have raised $106 Mn for the startup.
The startup was founded by ex-Flipkart executive Rishi Vasudev and Turms founder Rameswar Misra. It assists D2C lifestyle brands in growing online and acquires them across the country.
In the coming years, the D2C market in India is expected to grow to $100 Mn, with close to 1K D2C brands.
In the D2C market, GOAT competes with GlobalBees, Evenflow, Mensa Brands, and other firms. Fueling their growth across online and offline channels helps ensure their portfolio brands’ success. In addition to its digital marketing, brand, technology, and operational expertise, it provides them with a tech-enabled platform for end-to-end integration.
Brands acquired by GOAT Brand Labs usually have strong social media followings, and direct sales from their own websites or platforms like Shopify, Myntra and Ajio, with an ARR ranging from $2 million to $10 million.
So far the company has acquired more than 15 brands including bottom wear brand Pepe Jeans, petcare brand Doggie Dabbas, and Indian wear brands trueBrowns and Abhishti, in addition to skincare platforms Nutriglow and Neemli and gardening solutions Leafy Greens.
The D2C rollup startup plans to have 100 brands under its portfolio by 2025, aiming for a revenue of $1 billion.
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