Direct to consumers brand aggregator G.O.A.T Brand Labs on Thursday said it has secured USD 50 million (about Rs 390 crore) in funding as part of Series A1 round.
The round saw the participation from new investors, including Winter Capital, 9Unicorns, Venture Catalysts, Vivriti Capital and Oxyzo along with most of the company’s existing investors, G.O.A.T Brand Labs said in a statement. The company had raised its first round of USD 36 million in July 2021 with investments from Tiger Global, Flipkart Ventures, Mayfield, Nordstar, Better Capital, Trifecta and others.
The fresh funds will be utilised to acquire new brands, it added. “We will continue to acquire high potential D2C brands across the lifestyle segments and scale them to huge outcomes,” G.O.A.T Brand Labs co-founder & CEO Rishi Vasudev said.
In one year since starting the venture, the company said it has completed 15 acquisitions of well-known, strong and upcoming D2C brands in the lifestyle space, including The Label Life (lifestyle brand), Voylla (fashion jewellery), trueBrowns & Abhishti (Indian wear), Frangipani (children wear), Neemli and Nutriglow (beauty and skincare) and pets brand Doggie Dabbas. The company is in advanced discussions with another 12 brands, which will be unveiled in the coming days, it added.
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