Gro Club, a D2C kids subscription platform has raised funding of ₹4.3 crore at a valuation of ₹25 crore led by Ramaiah Evolute, a start-up wing of MS Ramaiah Group.
An angel consortium consisting of Deepak Gowda of Ascent Capital and Purushotham R, Chirag Shah of Velvet (Los Angeles), Isaac Reyes of Ravis (Panama), Amit Nanavati of Juicy Chemistry, Sanjay Munirathna of Keerthi Group, Dinesh Talera, Shricharan N J and Sanjay Sunku (Drink Prime) also participated in the round.
GroClub, launched in January 2022, is currently available in Bengaluru. In 16 months, Gro Club said it has gained momentum in the market, Within the 25kms range, it offers its operating range, onboarding 400 subscribers and clocking a subscription Monthly Revenue Rate of ₹23 lakhs.
Samartha Raghava, Chief Strategist, Ramaiah Evolute, said, “Gro Club is on a mission to disrupt the kid’s space through subscription plans tailor-made for the access economy, meaning parents never need to buy certain products for their kids again. The fact that parents can now subscribe to a product for the period it is useful to their kids itself is a game-changer.”
Gro Club offers products on subscription for growing kids which they can upgrade. Gro Club primarily challenges the “take-make-dispose” approach and encourages the “reduce-reuse-regenerate” mindset for growing kids, it said.
“Our goal is to offer top-notch products and create community-driven, enriching experiences for parents and children. With the funds raised, we’ll expand our range and reach new Indian cities,” says Pruthvi Gowda, Co-Founder & CEO of GroClub.
With inputs from BL Intern Shayna Cedric