The men’s clothing brand Snitch announced that it has raised Rs 15 million from investors during Shark Tank India Season 2. Siddharth Dungarwal, the founder of Snitch, got the five sharks to submit offers at the same time while persuading them to invest in his most promising business model and growth.
Peyush Bansal, one of the sharks, made an offer of 1.5 crores for 1.5% equity, or 3% from each investor, as per reported by BW Disrupt.
In order to increase the brand’s share of voice and simultaneously connect with its larger audiences and geographic areas throughout India, he intends to take use of the funds by implementing a consistent branding strategy.
Expressing views on his experience at Shark Tank India S2, Siddharth Dungarwal, Founder and CEO, Snitch, stated, “It was incredible to be on one of the best and top-rated entrepreneurial shows, and it was highly insightful to meet business leaders like sharks there. It was more towards the value these sharks would get rather than chasing valuation. Each one of them has different expertise and holds some amazing industrial experience. We will together set up new benchmarks in the industry with this collaboration.”
Creating apparel for the stylish modern guy, SNITCH draws influence from all over the world. As a men’s fast fashion company with a unique design philosophy, they create styles in reaction to the newest fashions.