Fashion Brand Snitch to Raise Rs 280 Cr in Series B Round

D2C menswear fashion brand Snitch is raising INR 278.93 Cr (around $33 Mn) in a fresh funding round to be led by 360 Asset Management Fund.

The round also saw participation form existing investors IvyCap Ventures and SWC Global.  

The Snitch’s board has approved a plan to raise Rs 278.9 crore (about $33 million) by issuing 1,755 Series B shares at Rs 15,89,385 each, according to filings with the Registrar of Companies (RoC).

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360 One will lead the funding with Rs 220 crore (around $25.9 million), while existing investors SWC Global and IvyCap Ventures will add Rs 29.4 crore (about $3.5 million).

This move supports Bengaluru-based Snitch’s plans to launch new products, open more offline stores, and grow its presence globally.

About Snitch 

Founded in 2019 by Siddharth Dungarwal, Snitch is a D2C fashion brand focused on fast fashion for men, offering stylish and affordable clothes through its website, app, and offline stores. It currently runs 58 stores in cities like Bengaluru, Mumbai, Delhi, and across Gujarat.

The brand aims to open over 100 offline stores in India by 2028.

Snitch appeared on Shark Tank India Season 2, where it raised ₹1.5 crore for 1.5% equity from all six sharks at a ₹100 crore valuation.

Snitch's revenue grew by 128% to ₹243 crore in FY24, up from ₹106.6 crore the previous year. Thanks to this strong growth, its net profit also rose by 1.3 times to ₹4.4 crore, compared to ₹3.1 crore in FY23.

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