Gems & Jewellery News

Snitch: Snitch secures Rs 110 cr in Series A funding for expansion and innovation


Fashion brand Snitch on Wednesday secured Rs 110 crore in Series A funding co-led by SWC Global and IvyCap Ventures.

The investment, supported by key angel investors, will catalyze Snitch’s expansion in talent, technology, and an offline retail strategy, said Snitch in a press release.

Snitch opened its inaugural store in Bangalore, and its online platform has garnered a digital footprint with more than 2 million app downloads. The majority of Snitch’s sales originate from its website and app, supported by an expanding offline presence and collaborations with prominent online marketplaces.

“Snitch has served a vast array of pin codes across India, underlining its wide reach and commitment to quality and innovation,” said the company in a press release.

Snitch has successfully surpassed a turnover of over 100 crores in the fiscal year 2023, surpassing the anticipated growth of more than 100% in the fiscal year 2024. Additionally, Snitch is poised for further expansion with plans to inaugurate over 100 offline stores nationwide within the next 4-5 years.

Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, said, “We invested in this exceptional company, recognizing their ability to not just stay on top of the trends but to create them, propelling them to the forefront of their industry.”This funding round, especially in a challenging funding environment, is a testament to our resilience and the strength of our business model, said Siddharth Dungarwal, founder of Snitch. “Our focus on delivering exceptional value through our online platforms, coupled with our burgeoning offline presence, positions us well for future growth. We’re excited to continue our journey, setting new benchmarks in retail efficiency and customer satisfaction,” he added.“Our decision to invest in Snitch is rooted in our belief in their visionary approach to fast fashion. Snitch’s impressive performance, especially in a challenging economic landscape, is a testament to its innovative business model and deep understanding of consumer needs,” said Tuck Lye Koh, Founding Partner, SWC Global reflecting on the investment.


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