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Snitch, the Bengaluru-based menswear brand known for its trend-first fashion and weekly product drops, has raised up to $40 million or Rs 340 crore in a Series B funding round at a valuation of over Rs 2,500 crore.
360 One Asset led the round, with participation from IvyCap Ventures and SWC Global, alongside the Ravi Modi Family Office—backers of Manyavar—and a group of angel investors.
The fresh capital comes more than a year after Snitch’s $13 million Series A round in December 2023, and marks a major step in the brand’s bid to scale beyond digital into an omnichannel powerhouse. The startup plans to use the funds to expand from over 55 stores to 100 by the end of 2025, while also exploring new formats such as quick commerce and international markets.
Founded in 2020 by Siddharth Dungarwal, Snitch has positioned itself as a cult favourite among Gen Z and millennial men, offering high-frequency fashion collections through its website, app, and physical stores. The brand’s business model relies on lean manufacturing and a fast-turnaround supply chain, releasing new designs every week and maintaining tight inventory cycles. That approach, according to the startup, has enabled it to grow 120% year-on-year while remaining profitable.
“Built on belief, speed and an obsession with our customer, Snitch has been a force redefining fashion making in India for the world,” Dungarwal said. “This fundraise is a backing to our belief that Indian fashion can move with speed, scale and confidence, and truly compete at a global stage.”
Chetan Naik, senior fund manager and strategy head at 360 One Asset, described Snitch as “one of the fastest-growing profitable scaled D2C brands in India,” citing its capital efficiency, digital-first execution, and omnichannel strategy as differentiators.
Vikram Gupta, founder and managing partner at IvyCap Ventures, said, “Our reinvestment confirms our conviction in Snitch’s capital-efficient growth.”
“Over the last 18 months, with the offline expansion, Snitch has established itself into a truly omnichannel brand. We are looking forward to our continued partnership with Siddharth and team to grow Snitch into a leading men’s apparel brand in the country,” said Tuck Lye Koh, Founding Partner, SWC Global.
Snitch had earlier gained public attention through its appearance on Shark Tank India Season 2, where it raised Rs 1.5 crore from all six sharks at a valuation of Rs 100 crore. Since then, the startup has scaled rapidly, closing FY24 with Rs 241 crore in revenue and a reported profit of Rs 4.39 crore.
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