Bengaluru-based men’s fashion brand Snitch is set to raise approximately ₹278.93 crore ($33 million) in its Series B funding round, led by 360 One Asset Management Fund. Existing investors SWC Global and IvyCap Ventures are also participating in this round. The funding will be raised through the issuance of 1,755 Series B Compulsorily Convertible Preference Shares (CCPS) at an issue price of ₹15,89,385 each, as per regulatory filings accessed from the Registrar of Companies (RoC).
💼 Funding Breakdown
- Total Amount: ₹278.93 crore ($33 million)
- Lead Investor: 360 One Asset Management Fund contributing ₹220 crore ($25.9 million)
- Existing Investors: SWC Global and IvyCap Ventures contributing ₹29.4 crore ($3.5 million)
This funding round marks a significant increase in Snitch’s valuation, which is now estimated at around ₹2,400–2,500 crore ($294 million), nearly five times its previous valuation of ₹500 crore during the Series A round in December 2023. Entrackr
🧵 About Snitch
Founded in 2019 by Siddharth Dungarwal, Snitch is a direct-to-consumer (D2C) fashion brand specializing in fast fashion for men. The company offers trendy and affordable apparel through its own website, mobile application, and an expanding network of offline retail stores. As of now, Snitch has established 58 physical stores across India, with a presence in major cities such as Bengaluru, Mumbai, Delhi, and locations in Gujarat, among others.
📈 Growth and Future Plans
Snitch aims to become a ₹1,000 crore brand by FY26 and plans to go public within the next three years. The company is focusing on expanding its offline presence, improving technology, and entering new categories to achieve this goal. In FY25, Snitch opened 50 stores and plans to open 75 more in FY26, bringing the total store count to 125. The brand aims to open 300 stores by FY28.
