The Souled Store raises Rs 75 crore from Elevation Capital, Retail News, ET Retail

The Souled Store raises Rs 75 crore from Elevation CapitalCHENNAI: Youth informal wear brand name The Souled Retailer has lifted Rs seventy five crore in Sequence B funding led by Elevation Cash.

The expenditure spherical also saw participation from angel investors Sahil Barua (co-founder & CEO, Delhivery), Gunjan Soni (CEO, Zalora), and Ashish Goel (founder & CEO, City Ladder), amid other executives at several startups.

The corporation reported it would use the cash for expanding their product portfolio on both of those certified products and informal wear, developing greater brand name awareness and offline retail existence pan India, expanding manufacturing capabilities, and ramping up staff.

Started in 2013 by Vedang Patel, Aditya Sharma, Rohin Samtaney, and Severe Lal, The Souled Retailer was 1 of the initially makes to carry in certified supporter products of world wide businesses this kind of as Disney, Warner Bros, WWE, IPL teams, EPL Teams and Viacom18.

The corporation styles, manufactures and retails a wide assortment of clothing items with styles ranging from pop-lifestyle themes like superheroes (Marvel and DC universes), movies (Star Wars, Harry Potter), Television set exhibits (Good friends, Activity of Thrones), and cartoons (Looney Tunes, Tom & Jerry), and has partnered with a hundred and fifty+ franchisees.

“The emphasis heading ahead will be to introduce a wide variety of new product classes, enhance our buyer get to, and develop our offline existence pan India to fulfil our intention of crossing Rs one,000 crore GMV by 2025,” Vedang Patel, co-founder and CEO, The Souled Retailer, reported.

The corporation was bootstrapped for the initially 5 yrs and been given seed funding from RPSG Ventures in November 2018. Considering the fact that then, the corporation has developed around 4X. The Souled Retailer has around 3 million registered end users and says it is on keep track of to do a Rs five hundred crore GMV following 12 months.