Zouk is a D2C fashion brand that offers shoes and handcrafted bags. The startup announced its plans to secure 10 million USD in its fresh funding round from Aavishkaar Capital. The funding round expects to have the participation of several new and existing investors including Stellaris Venture Partners.
The startup provides products including laptop bags, backpacks, and handbags. The company plans to use these fresh proceeds to scale its operations, enhance its platform, improve its manufacturing capability, and develop its market presence.
The new round will happen after 18 months for the company offering cruelty-free products. The source close to the development told entrackr, that Aavishkaar Capital has already signed a deal with issue term sheets and has completed the due diligence, The company will invest in the new funding round along with existing investor Stellaris Venture. Aavishkaar Capital has already invested in Agrostar, GoDesi, Milk Mantra, Altum Credo, and Ergos.
This online bags and shoes brand provides various products including travel pouches, backpacks, and footwear. The company also offers waterproof bags designed for critical weather conditions. The startup aims to use this investment and expand its brand presence.
The company claims to provide handmade products with 100 percent vegan leather manufactured and sourced in India. Zouk majorly provides deals in laptops, chain wallets, and tote handbags. The startup raised 4.5 million USD across multiple funding rounds since its inception, including $1.5 million secured from Stellaris during the pre-series A funding round.
The startup also raised $3 million from Stellaris Ventures, Sharrp Ventures, and others during its series A funding round in 2023. The company intends to strengthen its quick-commerce presence and increase its product capability. The startup data intelligence platform, thekredible mentioned the valuation of Zouk to be around 7 million USD during its last funding round.
The Mumbai-based startup reported a revenue of Rs 47.41 crore in FY23. However, the losses increased to Rs 10.55 crore in the same duration. The startup data intelligence platform, thekredible mentioned that the existing investor Stellaris Ventures remains the largest external stakeholder of the firm with a 19.63 percent stake while the founders Krishnakuma and Sigh account for 31 percent of the company’s share after the last funding round. Zouk is predicted to reach a valuation of Rs 400 crore after the new funding round. The fashion brand faces competition from companies like Maisha Lifestyle, Pabiben, and Strutt.
Conclusion :
Internet-first D2C fashion startup, Zouk to raise 10 million USD million in its new funding round from the Aavishkaar Capital. The startup plans to use this fresh capital to scale its operations, improve its performing capability, and develop its market presence. The existing investor Stellaris Ventures is also expected to participate in this funding round along with other investors.
The company provides handmade products made of 100 percent vegan leather and fabrics such as silk, khadi, and jute. The development came just after the D2C sector saw increased investor interest. The company competes with other D2C companies offering handmade bags and fashion products including Strutt, and Maisha Lifestyle.
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