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D2C brand Zouk raises $10 Mn led by Aavishkaar Capital

EntrackrEntrackr · 11m ago
D2C brand Zouk raises $10 Mn led by Aavishkaar Capital
Medial

Zouk, a direct-to-consumer bags and luggage brand, has raised $10 million in its Series B funding round, led by Aavishkaar Group. This round also saw participation from Stellaris Venture Partners, Titan Capital, Sharrp Ventures, and the JJ Family, bringing Zouk’s total funding to $14.5 million. Entrackr reported on October 7 about Zouk's new funding round. With the fresh capital, Zouk will focus on expanding its network of exclusive brand outlets, aiming for a total of 75 stores. The firm also plans to enhance its marketing efforts and supply chain while investing in talent across various verticals. Founded in 2015 by Disha Singh and Pradeep Krishnakumar, Zouk specializes in handmade products, including laptop bags, tote handbags, sling bags, and wallets, all crafted from 100% vegan leather sourced in India. With over 700,000 customers served, the startup is also venturing into the luggage segment with new backpacks and trolley bags, anticipating strong growth in this area. Sources indicate that Zouk will be valued in the range of $50 million (approximately Rs 400 crore). According to the startup data intelligence platform TheKredible, the Mumbai-based startup was valued at around $7 million during its last round. At the time of the last funding round, co-founders Disha Singh and Pradeep Krishnakumar each held a 31% stake in the company, while Stellaris was the largest external shareholder with a 19.63% stake. For the fiscal year ending in March 2023, Zouk reported a revenue of Rs 47.41 crore, up from Rs 21.82 crore in FY22. However, the company’s losses increased to Rs 10.55 crore, compared to Rs 77 lakh in the previous year. Zouk has yet to file its numbers for FY24. Lead investor Aavishkaar Capital has previously backed several startups, including AgroStar, Altum Credo, Ergos, GoDesi, Milk Mantra, and Newtrace.

D2C fashion brand Zouk set to raise $10 Mn led by Aavishkaar Capital

EntrackrEntrackr · 1y ago
D2C fashion brand Zouk set to raise $10 Mn led by Aavishkaar Capital
Medial

Direct-to-commerce (D2C) fashion brand Zouk is in late-stage talks to raise a new round, sources aware of the development told Entrackr. The new round is coming after more than 18 months for the Mumbai-based startup, which claims to make cruelty-free products. “Aavishkaar Capital has issued a term sheet and has completed due diligence. The impact fund, along with existing backer Stellaris Venture, will invest over $10 million,” said one of the sources, requesting anonymity as discussions are private. Aavishkaar Capital has invested in several startups including AgroStar, Altum Credo, Ergos, GoDesi, Milk Mantra and Newtrace. Launched in 2015 by Disha Singh and Pradeep Krishnakumar, Zouk majorly deals in laptop, tote handbags, sling bags and chain wallets. As per the company, its products are handmade by its in-house artisans, and are 100% vegan leather sourced and manufactured in India. In March 2023, Zouk raised $3 million led by Stellaris Venture. Angel investors such as Atomberg founder Manoj Meena and founders of Sugar Cosmetics Vineeta Singh and Kaushik Mukherjee also participated in the round. It has raised more than $4.5 million to date including $1.5 million pre Series A round led by Stellaris and an undisclosed seed funding led by Titan Capital in July and January 2021, respectively. Sources added that Zouk will be valued in the range $50 million (Rs 400 crore. As per startup data intelligence platform TheKredible, Zouk was valued at around $7 million during the last financing round. Queries sent to Zouk and Aavishkaar didn’t elicit any response. For the fiscal year ended in March 2023, Zouk registered Rs 47.41 crore revenue against Rs 21.82 crore in FY22. The company’s losses surged to Rs 10.55 crore from Rs 77 lakh during the period. It is yet to file FY24 numbers. As of the last funding, Zouk’s founders Singh and Krishnakuma had 31% stake each in the company while Stellaris was the largest external shareholder with 19.63% stake. Check TheKredible for more details.

MyDesignation raises $1.25 Mn in seed round

EntrackrEntrackr · 6m ago
MyDesignation raises $1.25 Mn in seed round
Medial

Thiruvananthapuram-based direct-to-consumer (D2C) fashion brand MyDesignation has raised $1.25 million (approximately Rs 10.7 crore) in its seed funding round led by Multiply Ventures, with participation from Veltis Capital, Sattva Ventures, Dominor Investment Holdings, and Green Trunk Ventures. According to MyDesignation, the capital will be utilized to enhance hiring, improve technology, expand offline presence, and enter new markets. Founded in 2020 by husband-wife duo Swaroop Krishnan and Gopika B Raj, MyDesignation offers fashion and lifestyle products. The brand claims to have built a customer base of over 500,000 consumers, with a 35% monthly repeat rate, and aims to double this user base within the year. MyDesignation operates independently without relying on third-party platforms or marketplaces, allowing full control over the customer journey. The firm plans to deepen its technological capabilities, expand its offline footprint, and hire talent aligned with its mission. In the competitive D2C fashion space, MyDesignation faces competition from brands like NNNOW, Nicobar, and Yepme.

Kidswear brand Orange Sugar raises pre-seed round

EntrackrEntrackr · 14d ago
Kidswear brand Orange Sugar raises pre-seed round
Medial

Kidswear brand Orange Sugar has raised Rs 4 crore in a pre-seed funding round from Consumer Collective by Atrium and Ramakant Sharma. The round also saw participation from a group of angel investors including Saurabh Jain, Srivatsan Chari, Kunal Mahipal, Meghana Agarwal, and Sunil Khaitan. The fresh capital will be utilized to launch new product lines and categories within the premium kidswear segment, while further strengthening its distribution network across digital marketplaces, quick commerce and offline retail, Orange Sugar said in a press release. Co-founded in 2022 by Tarun Agrawal, Payal Agarwal, and Bharath Gupta, Orange Sugar addresses the growing demand for high-quality, comfortable, and stylish kidswear for children up to 10 years. The brand offers 100% cotton everyday basics that blend safety, durability, and modern design, catering to the expectations of contemporary Indian parents. According to Orange Sugar, its products are available on leading e-commerce marketplaces such as Myntra, Firstcry, and Nykaa Fashion, along with its own D2C platform. “At Orange Sugar, we’re building India’s go-to brand for the other 80% premium everyday essentials that kids truly live in. This fundraise is a strong validation of our vision, and with the support of experienced investors, we’re ready to scale, innovate, and lead this category with uncompromised quality and trust,” said Tarun Agrawal, co-founder of Orange Sugar.

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