Snitch, a pioneering innovator in the fast fashion domain, has successfully closed a Series A funding round of Rs. 110 crore 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, building upon its already impressive market performance, a statement said.
Snitch, known for its agility and trend-forward approach, has consistently set high industry standards. The brand’s first store in Bangalore demonstrates its robust retail strategy and strong customer appeal. Along with a significant digital presence marked by over 2 million app downloads, Snitch has served a vast array of pin codes across India, underlining its wide reach and commitment to quality and innovation. A majority of Snitch’s sales are generated through its website and app, complemented by a growing offline presence and partnerships with major online marketplaces, according to the statement.
Reflecting on the investment, Tuck Lye Koh, Founding Partner, SWC Global remarked, “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. We are excited to support Snitch as they continue to redefine the fashion retail space, and we are confident that this partnership will propel both Snitch and the broader fashion industry forward.”
Since its launch, Snitch has been a game-changer in the Indian fashion landscape, blending style with
technology-driven solutions. The brand’s dedication to providing a seamless shopping experience,
reflected in its high sales metrics and expansive digital reach, positions it as a leader in both the
online and offline fashion retail spaces. With a commitment to excellence and innovation, Snitch is
poised to redefine the standards of fast fashion in India and beyond.
Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, stated, “Snitch Brand’s
unparalleled business model, a passionate founder, and a differentiated approach set them apart in
their segment. 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.”
Ashish Wadhwani, Co-Founder and Managing Partner of IvyCap Ventures, will join the Snitch
board on behalf of IvyCap Ventures.
Siddharth Dungarwal, Founder of Snitch, shared, “This funding round, especially in a challenging
funding environment, is a testament to our resilience and the strength of our business model. 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.”
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.