SNITCH Hits ₹2,500 Crore Valuation After ₹340 Crore Raise

279

In a move that screams confidence and grit, Bengaluru-based menswear disruptor Snitch has just bagged ₹340 crore (~$40 million) in a fresh Series B round. This latest funding round rockets its valuation beyond ₹2,500 crore — a steep climb for a brand that didn’t even exist five years ago. The round saw heavy hitters like 360 One Asset, IvyCap Ventures, SWC Global, and the Ravi Modi Family Office jump on board. A year ago, they raised ₹110 crore. Now? They’ve more than tripled that. Clearly, someone’s doing something right.

Founded in 2019 by Siddharth Dungarwal, Snitch didn’t waste time messing around with tradition. What began as a modest offline label has evolved into a beast of an omnichannel brand — churning out new-age fashion at breakneck speed across apps, websites, and brick-and-mortar outlets. In FY24 alone, they clocked ₹243 crore in revenue, marking a jaw-dropping 128% surge from the previous year, and still managed to post a ₹4.4 crore profit. Not too shabby for a brand that’s barely out of its startup diapers.

The capital isn’t just sitting pretty — Snitch plans to use the funds to double down on retail (think 100 stores by the end of 2025), flirt with quick commerce, and even test international waters. Tech will be front and center too — we’re talking AI-powered logistics, data-led forecasting, and a customer journey that feels tailor-made.

And that supply chain? Lean, mean, and brutally efficient. Weekly drops of fresh designs and almost no inventory bloat have made Snitch a favorite among Gen Zs and millennials. It’s fast fashion, but with a pulse.

1. Introduction

Snitch’s newest funding milestone isn’t just another headline — it’s a loud, defiant shout from the rooftops that the Indian fashion scene is evolving. From underdog to market mover, this brand’s meteoric rise is worth more than a passing glance.

2. Company Overview

2.1 Founding and Early Days

When Siddharth Dungarwal launched Snitch in 2019, it looked like just another menswear venture. Then the pandemic hit — and instead of folding, they adapted. They tossed the rulebook and pivoted online, diving headfirst into e-commerce. That gutsy move turned out to be the cornerstone of everything that came next.

2.2 Product Offerings

Snitch’s catalogue is a wild ride: from printed shirts and oversized hoodies to bold co-ords, slick sunglasses, sneakers, and even fragrances. It’s not subtle — and that’s exactly the point. Tailored unapologetically for Gen Z and millennials who crave trend-first fashion without the boutique price tags.

3. Business Model and Revenue Streams

3.1 Lean Manufacturing and Fast Fashion

Snitch doesn’t do fashion seasons — it does fashion sprints. Designs drop every week. Inventory is tight. Trends are sniffed out early and turned into collections before most brands have even caught up. It’s a business model that screams efficiency — and it’s paid off, with over 120% YoY growth.

3.2 Omnichannel Strategy

Started online, sure — but Snitch didn’t stop there. Today, it’s everywhere: own app, website, physical stores, Flipkart, Amazon — name it. Interestingly, 70% of sales still come from online, with physical stores just beginning to stretch their legs at 5%. But don’t be fooled — the brand’s just warming up.

3.3 Revenue Growth

Here’s how the cash stacks up:

• FY21: ₹11 crore
• FY22: ₹44 crore
• FY23: ₹110 crore
• FY24: ₹243 crore

The bottom line’s not too shabby either: profits went from ₹3.1 crore to ₹4.4 crore in one year.

4. Funding Journey

4.1 Series A Funding

December 2023 saw Snitch scoop up ₹110 crore in Series A, co-led by SWC Global and IvyCap Ventures. That money went straight into scaling talent, upgrading tech, and expanding offline.

4.2 Shark Tank India Appearance

Let’s not forget their reality TV moment — a ₹1.5 crore raise from all six sharks on Shark Tank India at a ₹100 crore valuation. It gave them national exposure and a cult following overnight.

4.3 Series B Funding

Fast forward to now: ₹340 crore raised in Series B. Investors clearly see something promising. At ₹2,500+ crore in valuation, Snitch isn’t playing small anymore.

5. Expansion Plans

5.1 Retail Footprint

More stores, more reach. From 55 to 100 by end-2025. The stores will sprawl across both high-street locations and malls, ranging between 1,000–4,000 sq ft. Importantly, they’ll all be owned and operated by Snitch — no franchises diluting the brand.

5.2 Warehousing and Logistics

With growth comes the need for scale. They’re pumping ₹5 crore into a massive new warehouse in Bengaluru — boosting capacity by 1 lakh sq ft and adding 20,000 shipments/day to their bandwidth.

5.3 Technological Advancements

Tech is central to Snitch’s next act. AI-led decision systems, smart demand forecasting, and advanced ERP backbones are being rolled out — not just for flash but to make every moving part of the business smarter.

6. Market Position and Competition

6.1 Target Audience

Snitch’s sweet spot? Young men who want to look fresh but not broke. With price tags hovering between ₹800–₹1,500, it comfortably undercuts the likes of Zara and H&M while staying firmly in trend territory.

6.2 Competitors

This space isn’t empty. They’re toe-to-toe with DaMENSCH, Bombay Shirt Company, Rare Rabbit — the latter is eyeing a $300M+ valuation. But Snitch seems unfazed. Their model is built for speed, volume, and relevance — and that’s a hard combo to beat.

7. Industry Trends

Indian menswear is having a moment. Shoppers are leaning into local labels, ditching big foreign names in favor of homegrown identity. The branded menswear space is already worth $3–4 billion — and the unbranded segment is even bigger. Snitch, like a savvy surfer, is riding the D2C wave just right.

8. Learning for Startups and Entrepreneurs

Here’s what other founders can steal from Snitch’s playbook:

• Pivot Fast: When COVID hit, Snitch didn’t flinch — it pivoted hard and fast to e-com.
• Know Your Tribe: Gen Zs and millennials aren’t just customers — they’re the pulse. Snitch reads them like a book.
• Stay Lean, Think Fast: Small inventories, fast drops — it’s a recipe that works.
• Play Omnichannel Right: Don’t just exist online or offline. Nail both.
• Let Tech Drive the Engine: From AI to ERP, the backend has to be as sharp as the front.

The Startups News

If stories like Snitch’s rise get your heart racing, you’ll want to bookmark TheStartupsNews.com. It’s not just another news site, it’s where India’s most exciting startup journeys are told, unfiltered and full of grit. Whether you’re a founder chasing your next big idea, an investor scanning for fresh opportunities, or just someone who loves watching underdogs win, this is your kind of place. We don’t just cover startups, we live them. Dive in, get inspired, and see what the future of Indian business really looks like.