D2C apparel firm Snitch raise ₹280 cr led by 360 Asset Management Fund
Summary
Mens fashion retailer Snitch has raised 278.9 crore, led by 360 One Asset Management Fund.The round also saw existing investors SWC Global, a Singapore-based venture capital firm and IvyCap Ventures, an early-stage venture capital firm, participate.The companys board approved the issuance of 1,755 Series B CCPS (compulsory convertible preference shares) at an issue price of 15,89,385 to raise 278.9 crore, according to filings made with the Registrar of Companies (RoC).The Bengaluru-based brand last raised 110 crore in December 2023. The Series A round was co-led by SWC Global and IvyCap Ventures Advisors Private Limited.This comes at a time when the Bengaluru-based Snitchs plans to boost its product offerings, and expand offline stores as well as global footprints.Founded in 2019 by Dungarwal, Snitch started in the fashion and apparels sector in the offline space. But the start-up had to pivot its operations online during the Covid-19 disruption. It sells a range of products including shirts, jackets, hoodies, co-ords, sweaters, inner wears, among others, via its own website, stores and ecommerce marketplaces.Till date, the start-up has raised $13.4 million in total funding.