G.O.A.T Brand Labs, the leading direct-to-consumer (D2C) house of brands, has successfully raised $21 million (Rs 175 crore) in a new funding round. The investment was backed by prominent investors including BlackRock, Mayfield, and NB Ventures. Founded by Rishi Vasudev and Rameswar Misra, G.O.A.T Brand Labs leverages their extensive experience in the retail sector. Vasudev, a seasoned retail executive, previously led Flipkart’s fashion business.
As India’s D2C market continues its steady growth trajectory into FY25 and beyond, G.O.A.T Brand Labs aims to utilize these funds to further expand the brands within its portfolio. The company’s impressive roster includes Chumbak, trueBrowns, The Label Life, Pepe Jeans Inner Fashion, Voylla, Petcrux, and Nutriglow.
“We are seeing strong tailwinds in the D2C space. Given the strength of our brands, an omnichannel play is panning out. We will use the capital from this round largely for growth – expanding our business in Quick Commerce, exports, and offline stores,” said Rishi Vasudev, co-founder of G.O.A.T Brand Labs. “Our brands are seeing good profitable scale-up with a couple of them just a few quarters away from the Rs 100 crore annual recurring revenue (ARR) mark. The company is all set to hit a profitable revenue of over Rs 500 crore ARR in the next 9-12 months,” he added.
While G.O.A.T Brand Labs has secured $21 million in this funding round, the company anticipates that the round will extend to approximately $30 million, driven by significant interest and ongoing discussions.