Snitch Hits Rs 2500 Cr Valuation After New Funding

One of the largest post-Shark Tank India success stories to date, Bengaluru-based men’s apparel firm Snitch raised Rs 340 crore in a Series B fundraising round to reach a valuation of Rs 2,500 crore.

IvyCap Ventures, SWC Global, and the Ravi Modi Family Office, which is well-known for supporting the ethnic clothing business, Manyavar, also participated in the round, which was led by 360 One Asset. This investment comes after Snitch’s December 2023 Series A round, which raised Rs 108 crore ($13M).

Established by Siddharth Dungarwal in 2020, Snitch has established itself as a popular menswear brand among Gen Z and millennials, providing in-store and online fast-fashion releases. By 2025, the company plans to increase its offline presence from 55 to 100 locations, enter other markets, and investigate innovative delivery methods like rapid commerce with the help of additional capital.

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The brand’s weekly product introductions and lean production approach, which support strict inventory control and high profitability, drive its explosive growth. Snitch showed profitability in FY24, with revenue of Rs 241 crore and profit of Rs 4.39 crore.

Snitch originally came to the attention of the public when it appeared on Shark Tank India Season 2, where it garnered Rs 1.5 crore at a valuation of Rs 100 crore from all six sharks. One of Shark Tank India’s greatest success stories, the company’s valuation has increased more than 25 times in just over a year.