Goat Brand Labs, a Thrasio-style firm founded by former Flipkart CEO Rishi Vasudev, has raised a $36 million investment round, including a debt component, in the midst of a flurry of funding for similar startups this year.
Flipkart Ventures, US-based Mayfield, Nordstar Partners, and Better Capital were among the investors in the round, which was led by New York-based investment firm Tiger Global.This round included prominent angel investors such as Udaan's Sujeet Kumar, DailyHunt's Virender Gupta, and Manipal Group's Ranjan Pai. According to persons familiar with the situation, Goat Brand has raised $18 million in equity financing and the remainder is in debt.Rameswar Misra, who previously founded the Turmswear garment brand, has joined Vasudev as a cofounder in this enterprise.
Goat Brand Labs, is expected to buy lifestyle businesses and help them thrive online.On Amazon.com, like Thrasio, the US-based firm is the world's largest acquisition of third-party private label firms.
Vasudev told that he is interested in partnering with early-stage lifestyle and beauty firms with sales of $1-3 million."We'll look to buy a majority stake and work with them so that we can help them build up," he said.
According to him, Goat Brand Labs will "provide them with a tech-enabled platform for end-to-end integration replete with deep digital marketing expertise" to fuel exponential growth of direct-to-consumer (D2C) brands across all channels—marketplaces, a brand's e-commerce platforms, offline retail, and global markets—by "providing them with a tech-enabled platform for end-to-end integration replete with deep digital marketing expertise."
Mensa Brands, 10Club, and GlobalBees are just a few of the new enterprises that have raised significant funding rounds.Mensa Brands and GlobalBees raised $50 million and $150 million in a mix of equity and loan capital, respectively, while 10Club raised $40 million in one of India's largest venture funding rounds.
"The D2C market in India's potential will only expand, and Goat Brand Labs is ideally positioned to properly harness this while helping businesses scale," stated Scott Shleifer, partner at Tiger Global.
credit- Economic Times