Ritesh Agarwal invests in luxury fashion startup Culture Circle

Luxury fashion startup Culture Circle has raised funding from Ritesh Agarwal, founder and CEO of OYO. The investment, for an undisclosed amount, values the company at over ₹100 crore.

Earlier, Culture Circle had secured a ₹3 crore deal for 3% equity from Ritesh Agarwal and Kunal Bahl (co-founder of Snapdeal and Titan Capital) on Shark Tank India, as per media reports. 

Now valued at over ₹400 crore, the startup is growing 4x with over 1 million monthly users and 4,000+ KYC-verified sellers. 

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It also ranks consistently among India’s top 50 shopping apps, according to the company.

The new funding will help scale SourceX, its AI-powered engine and also support expansion into new categories and international markets.

“Culture Circle is one of the most exciting youth-first platforms to emerge from India. Their focus on trust and experience makes them truly stand out,” Agarwal said.

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Devansh Jain Nawal, co-founder and CEO of Culture Circle, said the partnership is rooted in shared values. Co-founder and COO Ackshay Jain added that the company is creating a cultural movement.

About Culture Circle 

Founded by Devansh Jain Nawal and Ackshay Jain, Culture Circle is a fashion commerce platform focused on luxury and streetwear. 

Culture Circle runs flagship stores in Delhi and Hyderabad and offers a resale marketplace for branded sneakers and luxury fashion. The company plans to launch globally later this year.