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Uni Seoul raises Rs 5 Cr in seed round led by Sauce VC

EntrackrEntrackr · 2m ago
Uni Seoul raises Rs 5 Cr in seed round led by Sauce VC
Medial

Lifestyle brand Uni Seoul has raised Rs 5 crore ($585K) in a seed funding round led by Sauce VC, with participation from Panthera Peak Ventures, Arun Venkatachalam, Sangeet Agrawal, Navin Parwal, and Yogesh Kabra. The proceeds will be used to expand its offline presence in tier I cities, including Bengaluru, Hyderabad, and Chennai. Uni Seoul also plans to launch new private labels, upgrade its direct-to-consumer platform, strengthen marketing efforts, and improve its supply chain operations. Founded by Gaurav Karmani and Mohit Khurana, Uni Seoul sells products across home and living, personal care, gifting, and fashion accessories categories. The company operates four profitable stores in Pune, Hyderabad, Bangalore, and Nashik. The brand offers over 700 stock-keeping units (SKUs) across categories such as home & living, personal care, gifting, and fashion accessories. Approximately 40% of its products are manufactured in India through contract manufacturers, while the remaining are sourced from over 200 vendors in South Korea, India, China, and Vietnam. Uni Seoul operates two offline stores located in Pune and Nashik. The firm has also launched its online store in October 2023, which has contributed to 27% of its revenue without any marketing campaigns. The brand claims to have reported strong customer retention and an average rating of 4.8 across channels and aims to triple its growth in the next year.

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Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC

EntrackrEntrackr · 1m ago
Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC
Medial

Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC Sneaker brand Gully Labs has raised Rs 8.7 crore in a seed funding round — comprising Rs 7.6 crore in equity and Rs 1.1 crore in venture debt. The equity round was led by Zeropearl VC along with participation from Untitled Ventures, Atrium Ventures, and other prominent angel investors including Bounce co-founder & CEO Vivekananda Hallekere, Suhasini Sampath, Nishchay AG, Renee Cosmetics founder Ashutosh Valani, Anurag Ramadasan, and Rahul Seth, while Stride Ventures led the debt investment. Prior to this, the company had secured Rs 1.1 crore in equity during its pre-seed round in 2024. The fresh capital will be deployed towards diversifying the product mix, expanding sales channels, and opening physical retail stores, Gully Labs said in a press release. Co-founded in 2023 by Arjun Singh and Animesh Mishra, Gully Labs crafts handmade sneakers, blending premium materials with culturally rich design stories — from Phulkari-embroidered trainers to Onam-inspired silhouettes. Gully Labs sells its products through its website and in select partner stores across Indian metros. The company plans to build a larger production facility, broaden its product line across diverse sneaker styles, and deepen its reach across India and global markets. It also plans to launch exclusive retail outlets as part of its omni-channel strategy.

Innovist raises Rs 136 Cr led by ICICI Venture; Accel exits

EntrackrEntrackr · 3m ago
Innovist raises Rs 136 Cr led by ICICI Venture; Accel exits
Medial

Innovist, the parent company of Bare Anatomy, has raised Rs 136 crore (approximately $16 million) in a Series B funding round led by ICICI Venture. The round saw participation from Mirabilis Investment Trust, Niveshaay Investment, and existing backer Sauce. The funding round includes both primary and secondary components and will be directed toward product development, business growth, and team expansion, the company said in a media release. In the round, the company provided exit to Accel, which came in via their seed program (atoms). Rohit Chawla, founder and CEO, said that Innovist is one of the fastest-growing BPC (beauty and personal care) firms in the country and aims to cross Rs 300 crore in revenue by FY25. While the company has not yet filed its annual statements for FY24, it reported operational revenue of Rs 36.53 crore in FY23, along with a loss of Rs 16.87 crore. Innovist, previously known as Onesto Labs, was founded in 2018 by Chawla, Sifat Khurana, and Vimal Bhola. The company provides personal care products and currently manages three brands: Bare Anatomy, Chemist at Play, and Sunscoop. To date, Innovist has raised over $26 million, including a $7 million Series A round led by the Amazon Smbhav Venture Fund. According to startup data platform TheKredible, prior to this round, Sauce.VC was the largest external stakeholder, followed by 72 Ventures, Accel India, and the Amazon Smbhav Fund. It competes with D2C beauty brands like Minimalist, Mamaearth, Wow Skin Science, and Sugar Cosmetics.

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