A Mumbai-based clothing store Souled store has raised Rs 75 crore in series B funding. It is an Indian homegrown apparel company that was started by 4 people Vedang Patel, Aditya Sharma, Rohin Samtaney, and Harsh Lal 2013 and now holds an employee strength of 150.
The company sells printed t-shirts, mobile covers, badges, boxers, pajamas, and various other youth products that youngsters might be looking for on a wide range of designs, enabling customers to purchase personalized t-shirts and get access to a wide range of fashion items and accessories.
The investment round was lead by Elevation Capital followed by participation from angel investors Sahil Barua (cofounder & CEO, Delhivery), Gunjan Soni (CEO, Zalora; Ex-CMO, Jabong), Revant Bhate (cofounder & CEO, Mosaic Wellness), Ramakant Sharma (founder & COO, Livspace), Ashish Goel (Founder & CEO, Urban Ladder), Rohit Kapoor (CEO, INSEA at OYO), Mukund Kulashekaran (SVP of Business, Urban Company), and Varun Duggirala (cofounder, The Glitch).
It was one of the first brands to bring licensed merchandise in India with licenses including Disney, Warner Bros, WWE, IPL teams, EPL Teams, and Viacom18 and has partnered with 150+ franchisees.
“The focus going forward will be to introduce a variety of new product categories, enhance our customer reach, and expand our offline presence pan India to fulfill our aim of crossing Rs 1,000 crore GMV by 2025,” said Vedang Patel, co-founder, and CEO, The Souled Store.