Of the overall funds received by retail companies, fashion and lifestyle brands garnered the maximum with over Rs 500 crore.
IndiaRetailing Insights: Fundraises in the retail sector in the April 2024 to June 2024 quarter dropped by almost 49% to Rs 740 crore from 1,105 crore as compared to the previous quarter (January 2024 to March 2024) according to the analysis by IndiaRetailing Insights, a retail intelligence unit.
As per the data compiled, in the second quarter of the calendar year, companies like Datachamps, Nitro Commerce, Asaya, Go Zero, Wahter, Palette Brands, Sid’s Farm, Zyod, Zepto, Skye Air, Testsigma, Lenskart, Technosport, WHP Jewellers, Libas, Freshleaf, Betel Leaf, Icon, Fresh From Farm, Skippi, Wow! Momo, Clickpost, Includ and others raised funds.
The drop in fundraising could also be attributed towards the significant contribution to the capital infusion in the first quarter of the calendar year, which saw the airing of the television reality show Shark Tank Season 3, where almost 15O brands and startups mopped up funds ranging between Rs 70 – Rs 112 crores as per the details of per episode in media reports.
Monthly Figures
In April, several D2C brands and other retail players like QSR chain Wow! Momo, logistics intelligence platform Clickpost, kidswear brand Includ, and supply chain company MatchLog Solutions have raised capital totalling over Rs 144 crore from venture capitalists and private equity firms.
In May 2024, Technosport, WHP Jewellers, Libas, Freshleaf, Betel Leaf, Icon, Fresh From Farm, and Skippi cumulatively raised a sum of over Rs 437.68 crore.
Whereas in June 2024, Datachamps, Nitro Commerce, Asaya, Go Zero, Wahter, Palette Brands, Sid’s Farm, Zyod, Zepto, Skye Air, Testsigma, and Lenskart have raised funds amounting to over Rs 159.11 crores.
Money spenders
The funds were raised from Windrose Capital, DSG Consumer Partners, Saama, V3 Ventures, angel investor Arjun Purkayastha, Dholakia Ventures, Inflection Point, Ventures, Dholakia, Alumni Ventures, Omnivore and Narotam Sekhsaria Family Office, Alteria Capital, Stride Ventures, Stride One, and Trifecta Capital, Avenir, Lightspeed, Avra, Glade Brook, Nexus, StepStone, Goodwater, Lachy Groom and MassMutual Ventures, Z3Partners, Inflexor Ventures partners, Athera Venture Partners, Incubate Fund Asia, Escape Velocity, Abhishek Goyal (co-founder, Tracxn), the IIM Indore Alumni Angel Fund, Motion Ventures, July Ventures, Venture Catalysts, Blue Ashva Capital, and Capital A.
Category wise data
An in-depth analysis of data revealed that the fashion and lifestyle sector raised over Rs 550 crore, which was followed by the food and beverage sector which raised over Rs 86 crore, speciality retail got Rs 20 crore, tech service providers Rs 15 crore and beauty and wellness attracted Rs 1.23 crore.
Brands that raised heavy monies included WHP Jewellers, Libas, Lenskart and Wow Momo!
The analysis is based on the data compiled by IndiaRetailing reports, company information via press releases and social media and other information shared by retail experts and officials.
