D2C focused venture firmG.O.A.T Brand Labs has raised $36 million Series A from Tiger Global and Flipkart Ventures (an early-stage venture fund of Flipkart). This investment is a mix of equity and debt funding.
Other prominent angel investors who participated in this round include Virender Gupta of DailyHunt; Sujit Kumar, Udaan; Dr. Ranjan Pai of Manipal Group; Suhail Sameer of BharatPe; Neeraj Goenka of Texport and Alex Kuruvilla, managing director of Conde Nast India.
G.O.A.T Brand Labs (“G.O.A.T.”) will partner with digital brands by making an investment in them along with offering them a plug-and-play platform to accelerate growth. Founded by Rishi Vasudev and Rameswar Misra in May 2021, G.O.A.T (Greatest of All Time) claims to be in advanced discussions with at least 10 brands for acquisition. They are looking at brands in fashion, beauty, personal care, and Home & Kitchen in the first phase of investments.
Commenting on the future plans of G.O.A.T, co-founder Vasudev said, “'we aim to fuel the growth of D2C brands across all channels - marketplaces, brand’s e-commerce platforms, offline retail, and global markets, by providing them a tech platform for end-to-end integration.”
Before launching G.O.A.T, Vasudev has worked as Flipkart’s Group Head - Fashion (Flipkart and Myntra). He was also the CEO of Calvin Klein India, Lifestyle Departmental Store and Home Centre. Similarly, Misra had founded a D2C brand Turmswear, and he was also one of the SVP at e-commerce platform VOONIK.
Further, Ravi Iyer, Senior Vice President, and Head, Corporate Development, Flipkart, said, “we aim to work with early-stage startups that have the potential to address emerging business and consumer requirements leveraging the power of technology. The leadership team at G.O.A.T. have deep experience in this segment and we look forward to the transformation they will make in the D2C segment.” Flipkart Ventures is a $100 million early-stage venture fund of Flipkart, which was started in 2019 to support digital start-ups.
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