D2C womenswear brand D’chica has raised funding of Rs 1.62 crore from India’s one of the best revenue-based financing platforms Velocity to drive expansion in marketing and team. D’chica plans to capitalise on the booming Indian economy by generating sales of Rs. 45 crore by the end of fiscal 2023-24. Additionally, a revenue of Rs 6.6 crore is reported for fiscal 2021-22.
Commenting on the funding, Richa Kapila, Co-founder of D’chica in a statement said, “We chose revenue-based financing to retain our company’s autonomy and keep control in our hands. We didn’t want to go the traditional venture capitalists’ route until we had achieved our targeted run rate. Velocity’s support has been monumental in boosting our operations and giving us the tools to reach greater heights.”
Abhiroop Medhekar, CEO of Velocity added, “We are thrilled to be partnering with D’chica. We’re confident in the founders and their approach to catering specifically to digital natives – from strategy through business development.”
Founded in 2019 by sister-in-law duo Vani Chugh Kabra and Richa Kapila, D’chica sells women’s innerwear, sportswear, loungewear and footwear on e-commerce platforms such as Amazon, Myntra, Ajio, Firstcry, Jabong, Zivame and others.
