GOAT Brand Labs Raises USD 21 Mn to Fuel D2C Brand Growth The new funding will be used to fuel the growth of its portfolio brands, such as Chumbak, trueBrowns, The Label Life, Pepe Jeans Inner Fashion, Voylla, Petcrux, and Nutriglow.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
GOAT Brand Labs, the roll-up e-commerce startup, has announced the raising of USD 21 million (INR 175 crore) in fresh funding from BlackRock, Mayfield, NB Ventures, and others.
As per the official release, the funds will drive growth for brands like Chumbak, trueBrowns, The Label Life, Pepe Jeans Inner Fashion, Voylla, Petcrux, and Nutriglow.
Rishi Vasudev, Co-founder of GOAT Brand Labs, said, "We are seeing strong tailwinds in the D2C space. Given the strength of our brands, an omnichannel play is panning out. We will use the capital from this round largely for growth—expanding our business in quick commerce, exports, and offline stores. Our brands are seeing good profitable scale up, with a couple of them just a few quarters away from the INR 100 crore ARR mark."
Amidst the active talks and investor interest, the startup said that the investment round will get extended and close at about USD 30 million.
In June 2022, GOAT Brand Labs raised its last round of USD 50 million in a mix of equity and debt.
Founded in 2021 by Rishi Vasudev and Rameswar Misra, the Bengaluru-based business invests in digitally native lifestyle companies (fashion, home, beauty, and personal care) and aggregates direct-to-consumer (D2C) brands.
According to Vasudev, it is all set to hit a profitable revenue of over INR 500 crore ARR in the next 9–12 months.
