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Snitch raises $40 Mn in Series B round; to enter quick commerce

EntrackrEntrackr · 1m ago
Snitch raises $40 Mn in Series B round; to enter quick commerce
Medial

Snippets Snitch raises $40 Mn in Series B round; to enter quick commerce D2C menswear brand Snitch has raised up to $40 million in its Series B funding round led by 360 ONE Asset. Existing investors IvyCap Ventures and SWC Global participated, along with the Ravi Modi Family Office and other angel investors. Entrackr had exclusively reported the development last week. This is the second major funding round for the Bengaluru-based fashion brand, following its $13 million Series A raised in December 2023. The proceeds will be used to expand Snitch’s offline retail footprint from 55 to over 100 stores by the end of 2025, enter quick commerce, and test international markets. The company also plans to expand into new apparel and lifestyle categories. Founded in 2020 by Siddharth Dungarwal, Snitch offers trendy and affordable apparel through its own website, mobile application, and an expanding network of offline retail stores. “With 120% YoY growth, 55+ stores with strong unit economics, and strong loyal customer base, we’re stepping into a bigger league, building a world-class brand with India at its heart and agility at its core. As we gear up for global expansion and soon enter the public markets, this marks a bold step towards creating one of India’s most iconic fashion stories,” said Dungarwal. Snitch featured during the second season of Shark Tank India and raised Rs 1.5 crore against 1.5% equity from Anupam Mittal, Aman Gupta, Namita Thapar, Vineeta Singh, Peyush Bansal, and Amit Jain at Rs 100 crore valuation. The firm is targeting scale across India and international markets and is preparing for a public listing. For the fiscal year ending March 2024, Snitch reported a 100% year-on-year increase in its revenue to Rs 241 crore with Rs 4.39 crore profits. The company has yet to release its annual results for FY25.

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Ice cream brand Go Zero raises $1.5 Mn

EntrackrEntrackr · 1y ago
Ice cream brand Go Zero raises $1.5 Mn
Medial

Ice cream brand Go Zero has raised $1.5 million in its follow-on pre-Series A funding round from DSG Consumer Partners, Saama, and V3 Ventures, among others. The round also saw participation from notable angel investors such as Arjun Purkayastha. Earlier in August last year, the startup had raised $1 million in its pre-Series A funding round led by DSG Consumer Partners, Saama, and V3 Ventures. Founded by Kiran Shah, Go Zero has a diversified product portfolio featuring low-calorie, high-protein, and vegan ice creams. The startup claims that all its products are sweetened with plant-based sweeteners, which are low in calories. Currently present in 16 cities and over 125 dark stores, Go Zero ice cream brand is available on both quick commerce and e-commerce platforms in less than two years of launch. In FY24, Go Zero claims to have grown 4X compared to FY23 and while it saw 7X growth on quick commerce in just 5 months this summer. Go Zero competes with Hocco and NIC. Last year, NIC had raised $11 million in a growth funding round led by Jungle Ventures whereas Hocco recently raised $12 million from Chona family and others.

Battery Smart raises $65 Mn in Series B round

EntrackrEntrackr · 1y ago
Battery Smart raises $65 Mn in Series B round
Medial

Battery tech startup Battery Smart has scooped up $65 million in Series B round led by LeapFrog Investments. The equity round also saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and British International Investment (BII). While Battery Smart did not disclose its current valuation, it was valued at around $340 million during the first tranche of Series B worth $45 million. This was a significant surge in valuation from the $210 million in the pre-Series B round in November last year. The startup will use the capital to scale its battery-swapping network across the country and drive more electric mobility adoption, Battery Smart said in a press release. Battery Smart provides advanced lithium-ion batteries for electric two and three-wheelers which can be swapped in quick time at any of its swapping stations. Its battery-as-a-service (BaaS) solution helps customers to save high upfront costs. Currently, it claims to have 1,000 battery-swapping stations across 30 cities, completing over 35 million swaps with over 45,000 active customers. The firm has a presence in Haryana, NCR, Karnataka, Rajasthan, Telangana, Uttar Pradesh, and Maharashtra. Recently, Battery Smart tied up with quick commerce platform Zepto to deploy 1,000 electric vehicles in the next financial year of FY25. The partnership will allow Zepto’s EV delivery partners to use Battery Smart’s battery-swapping network. As per startup data intelligence platform TheKredible, Battery Smart saw a seven-fold jump in its revenue to Rs 55.8 crore from Rs 7.95 crore in FY22. Meanwhile, its losses also surged 4.9X to Rs 64.51 crore from Rs 13.08 crore. As per the latest data, Tiger Global controls 23% stake in Battery Smart followed by co-founders Pulkit Khurana and Siddharth Sikka with 14.28% stake each. Blume Venture holds more than 12% stake in the company. Check TheKredible for more details.

Zepto raises $340 Mn at $5 Bn valuation

EntrackrEntrackr · 10m ago
Zepto raises $340 Mn at $5 Bn valuation
Medial

Quick commerce company Zepto has raised $340 million in a follow-on financing round led by General Catalyst, with Dragon Fund and Epiq Capital joining as new investors. Existing investors, including StepStone, Lightspeed, DST, and Contrary, also increased their stakes. With this new funding, the company’s valuation has surged by nearly 40%, rising to $5 billion from $3.6 billion in June, when it raised $665 million in its Series F round. Zepto, has raised over $1 billion in 2024, $1.2 billion in the past 12 months, and more than $1.5 billion since its inception. “The rationale behind this follow-on financing was twofold,” said Aadit Palicha, co-founder and CEO of Zepto. “First, the opportunity to bring on a lead investor of Neeraj Arora’s caliber from General Catalyst was one we couldn’t pass up. Second, strengthening our balance sheet is a strategic move, especially as the company continues to deliver robust growth and operating leverage.” Zepto serves millions of customers by delivering over 10,000 products across various categories within 10 minutes through a network of delivery hubs nationwide. The Mumbai-based firm claims it has nearly achieved EBITDA positivity with 140% year-on-year growth and an annualized gross merchandise value of over $1 billion (Rs 8,300 crore). As of May 2024, it also reports that about 75% of its stores are fully EBITDA positive. In FY23, Zepto registered a 14-fold increase in revenue to Rs 2,024 crore, though its losses widened to Rs 1,272 crore. The quick commerce sector is becoming increasingly competitive with Flipkart’s recent entry and BigBasket’s full shift to rapid delivery. Additionally, e-commerce leader Amazon is expected to join the market early next year. Currently, Zomato-owned Blinkit has emerged as top player in the quick commerce followed by Swiggy Instamart, Zepto and Tata Digital-owned BigBasket.

Quick fashion delivery startup KNOT raises $3 Mn led by Kae Capital

EntrackrEntrackr · 1d ago
Quick fashion delivery startup KNOT raises $3 Mn led by Kae Capital
Medial

Quick fashion delivery startup KNOT raises $3 Mn led by Kae Capital Mumbai-based quick commerce fashion platform KNOT has raised $3 million in a pre-Series A round led by Kae Capital with participation from Sparrow Capital, Boundless Ventures LLP, and founders of SNITCH, The Souled Store, and Bonkers Corner. Existing investors WEH Ventures, All In Capital, and Kumar Saurabh (Aukera Jewellery) also backed the round. The new funding will fuel product development, expansion beyond Mumbai, and deepen brand partnerships. Founded in 2025 by Archit Nanda and Rachit Bansal, KNOT is reimagining online fashion delivery with its 60-minute delivery model and Try ‘n Buy experience in Mumbai. The idea was born after the duo pivoted from their earlier venture Slick, spotting a major gap in how Gen Z and millennials discover and shop for fashion. KNOT currently claims to have partnered with over 70 fashion brands, fulfilling thousands of orders monthly. Its standout features include AI-based virtual try-ons, doorstep trials with instant returns, and influencer-led discovery. In the same space, ZILO secured $4.5 million in seed funding led by Info Edge Ventures and Chiratae Ventures, last month. Fashion delivery startup Slikk also secured $10 million in funding. Myntra, which launched rapid apparel delivery in December 2024, has now extended the service to additional cities.

Beco raises $10 Mn in pre-Series B round led by Tanglin

EntrackrEntrackr · 11m ago
Beco raises $10 Mn in pre-Series B round led by Tanglin
Medial

Beco, a homegrown eco-friendly home, kitchen and personal care brand, has raised $10 million in its pre-Series B round led by Tanglin Venture Partners. The round also saw participation from Titan Capital Winners Fund, Manish Choksi, promoter of Asian paints, existing investor Rukam Capital and Synergy Capital. Earlier in December 2022, the Mumbai-based company had raised $3 million in its Series A round led by Rukam Capital and others. Entrackr had exclusively reported the Series A round in August 2022. The proceeds will be used towards innovation and expanding production capacity; developing a strong offline sales infrastructure in key geographies, and lastly, towards brand building and enhancing brand awareness. Founded in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia, Beco claims to be a pure eco-friendly and zero-plastic company which offers a wide range of products for home & kitchen and personal care. Its offerings include tissues, towel rolls and toiletries among others. Beco claims to have achieved an exponential 3x growth in the last year. It has a presence in 10,000 retail stores, with order values matching or exceeding those of legacy brands. In just five years, Beco has established a strong foothold in e-commerce and quick commerce platforms such as Amazon, Zepto, Blinkit, Swiggy Instamart, and DMart Ready. It is available in general trade across 20 cities and has entered modern trade, with plans to expand to other major players by the end of this quarter.

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