Goat Brand Labs has secured $21 million in funding through a combination of loans and equity from several investors, including BlackRock, Mayfield, and NB Ventures. This comes at a time of ongoing challenges in the broader industry.
Goat Brand intends to utilize the funds to expand its presence in various channels such as rapid commerce, offline stores, and exports. The primary objective is to foster the growth of brands including Chumbak, TrueBrowns, The Label Life, Pepe Jeans Inner Fashion, Voylla, Petcrux, and Nutriglow.
The company, headquartered in Bengaluru and operating in the e-commerce roll-up sector, chose not to provide any information regarding the breakdown of the fundraising or the valuation at which the funding occurred. Nevertheless, according to sources, the majority of the funding was obtained through loan finance.
Read also – Centriti Secures Rs 6 Cr Funding Round Led by Emergent India Ventures
In the field of e-commerce roll-up, companies purchase and expand many brands. According to a report in January by ET, the segment has been experiencing strain in recent months due to a broader lack of finance and difficulties in expanding the ecosystem.
Goat Brand’s present Annual Recurring Revenue (ARR) stands at Rs 370 crore. The company’s goal is to achieve profitability based on Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) in the second half of this fiscal year.
Rishi Vasudev, founder, Goat Brand Labs, said: “Our brands are seeing good profitable scale up, with a couple of them just a few quarters away from the Rs 100-crore ARR (annualised revenue run rate) mark,”
About Goat Brand Labs
Founded in 2021 by Rishi Vasudev and Rameswar Misra, G.O.A.T Brand Labs works with differentiated & exciting digitally-native brands in the Lifestyle space (fashion, home, nutrition, beauty, and personal care), helping take them to the next level of growth.
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