Snitch, the fast-rising Bengaluru-based menswear brand, has secured ₹340 crore (approx. $40 million) in a Series B funding round, catapulting its valuation beyond ₹2,500 crore. This fresh capital comes as a major milestone in the startup’s journey to scale operations and build a deeper omnichannel presence.
Key Highlights:
- Funding Round: Series B
- Amount Raised: ₹340 crore ($40 million)
- Valuation: Over ₹2,500 crore
- Lead Investor: 360 One Asset
- Other Participants: IvyCap Ventures, SWC Global, Ravi Modi Family Office (backers of Manyavar), and angel investors
- Founded by: Siddharth Dungarwal in 2020
- Headquartered in: Bengaluru
Growth Strategy and Vision
- Snitch plans to expand its store count from 55 to 100 by the end of 2025
- The brand is exploring quick commerce formats and international markets
- This marks a leap from its previous ₹108 crore valuation on Shark Tank India Season 2, where it raised ₹1.5 crore from all six sharks
What Makes Snitch Unique?
Snitch operates on a “trend-first, fast fashion” model, offering weekly product drops. It is heavily favored by Gen Z and millennial men who are fashion-conscious and prefer high-frequency style updates.
- Operates through website, mobile app, and offline stores
- Follows lean manufacturing and tight inventory cycles
- Reports a 120% YoY growth
- Closed FY24 with ₹241 crore in revenue and ₹4.39 crore in profit
“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 of Snitch.
Investor Confidence
Chetan Naik of 360 One Asset remarked:
“Snitch is one of the fastest-growing profitable scaled D2C brands in India. Their capital efficiency and digital-first strategy sets them apart.”
Vikram Gupta from IvyCap Ventures, an existing investor, added:
“Our reinvestment confirms our conviction in Snitch’s capital-efficient growth.”
Tuck Lye Koh of SWC Global highlighted:
“In the last 18 months, Snitch has evolved into a truly omnichannel brand. We’re excited to continue backing Siddharth and his team.”
The Road Ahead
From a small D2C label to a fashion disruptor, Snitch is gearing up to become a leading men’s fashion brand in India and beyond. Its bold approach, customer obsession, and innovative execution make it a standout player in India’s growing apparel industry.
