Bengaluru-based menswear brand Snitch has reached a valuation of over Rs 2,500 crore after securing Rs 340 crore in a Series B funding round. This major development strengthens the brand’s position in India’s fashion market and fuels its ambition to expand both online and offline.
The new funding round was led by 360 One Asset, with IvyCap Ventures, SWC Global, and the Ravi Modi Family Office, known for backing Manyavar, also investing. Several angel investors joined in as well. This comes more than a year after Snitch raised Rs 108 crore in its Series A round in December 2023.
Snitch Expansion Plan
With this fresh capital, Snitch plans to grow its presence from 55 stores to 100 by the end of 2025. The brand will also explore new opportunities like fast delivery through quick commerce platforms and launching in international markets.
Founded in 2020 by Siddharth Dungarwal, Snitch has become a favorite among Gen Z and millennial men for its trend-first fashion. The brand offers new collections weekly through its website, mobile app, and retail stores. With a fast-turnaround supply chain and lean manufacturing, Snitch has maintained a high growth rate of 120% year-on-year while remaining profitable.
Strong Investor Belief
Chetan Naik from 360 One Asset praised Snitch as one of the fastest-growing profitable D2C brands in India, highlighting its efficient use of capital and strong digital and offline strategy. Vikram Gupta from IvyCap Ventures added that their reinvestment shows their continued confidence in Snitch’s growth model.
Snitch first became known to the public after its appearance on Shark Tank India Season 2, where it secured Rs 1.5 crore from all six sharks at a Rs 100 crore valuation. Since then, the brand has scaled quickly, ending FY24 with Rs 241 crore in revenue and Rs 4.39 crore in profit.
Founder Siddharth Dungarwal said Snitch is built on belief, speed, and customer focus. He believes this funding will help the brand grow with confidence and represent Indian fashion on a global level.
