The Mumbai-based startup intends to grow its offline presence from 5 to 75 stores pan-India, strengthen brand awareness and enhance its supply chain
Bengaluru: Direct-to-consumer (D2C) lifestyle brand Zouk has raised $10 million (approximately Rs 84 crore) in its series B funding round, led by Aavishkaar Capital, the company said in a press release on Wednesday.
The funding also saw participation from existing investors such as Stellaris Venture Partners, Titan Capital, Sharrp Ventures, and JJ Family Office.
The Mumbai-based startup intends to utilise the funds to grow its offline presence from 5 to 75 stores pan-India. It will also strengthen its brand awareness and further enhance its supply chain.
“This fundraise enables us to scale up our online and offline channels, with a strong consumer love and product market fit we have already established,” said Pradeep Krishnakumar, co-founder of Zouk.
Zouk‘s latest funding round takes the total capital raised to $14.5 million. In May of last year, the company raised $3 million in a funding round led by Stellaris Venture Partners.
“Our offline stores are seeing good traction and more customers are looking to touch and feel Zouk products before buying. This capital will also enable us to expand our teams and build a large consumer brand from India for the world in the coming years,” said Disha Singh, co-founder of Zouk.
Founded in 2015 by IIM Ahmedabad batchmates the company has scaled up in a capital efficient manner and has over seven lakh customers across India.
Initially focusing on handbags, the brand expanded into the luggage category this year, introducing backpacks and trolley bags. Currently, Zouk collaborates with over 1,000 artisans from across India.
“We are thrilled to invest in Zouk, a brand that embodies the spirit of Indian craftsmanship while meeting the needs of modern Indian women,” said Divya Gupta, investment director, Aavishkaar Capital. “We are confident that with our partnership, Zouk will continue to innovate and grow, making a lasting impact in the lifestyle segment.”
Apart from Zouk, Aavishkaar Capital has previously invested in lifestyle brands such as GoDesi, Soulfull, and Jaypore.
