The company is looking to use these funds to fuel the growth of the brands in its portfolio.
New Delhi: Bengaluru-based G.O.A.T Brand Labs, a D2C house of brands has raised $21 mn (Rs 1755 cr) in a fresh funding round led by BlackRock, Mayfield, NB Ventures and others, a release by the company said on Monday.
The company is looking to use these funds for fuelling the growth of the brands in their portfolio – Chumbak, trueBrowns, The Label Life, Pepe Jeans Inner Fashion, Voylla, Petcrux and Nutriglow, the release added.
“Given the strength of our brands, an Omni channel 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 with a couple of them just a few quarters away from the Rs 100 cr annual recurring revenue (ARR) mark. The Company is all set to hit a profitable revenue of over Rs 500 cr annual recurring revenue (ARR) in next 9-12 months,” said Rishi Vasudev, co-founder of G.O.A.T.
While GOAT has completed the $21 Mn raise, the round is likely to get extended and close at $30 Mn given the interest and the active discussions.
Founded by Rishi Vasudev and Rameswar Misra in May 2021, G.O.A.T Brand Labs is an aggregator of D2C brands that invests in digitally native brands in the Lifestyle space (fashion, home, beauty & personal care). Its vision is to ‘Make Indian D2C stars world famous’.
