In the midst of ongoing pressure in the industry, Goat Brand Labs has secured US $ 21 million in a combination of loan and equity from a number of investors, including BlackRock, Mayfield, and NB Ventures.
The Bengaluru-based business, which is involved in the e-commerce roll-up industry, declined to comment on the terms of the fundraising arrangement or the amount of money invested.
Businesses that operate in the e-commerce roll-up sector buy and grow several brands. The ecosystem has been under strain in recent months due to a broader lack of funding and difficulties with scaling up, which has affected the segment.
Founder Rishi Vasudev of Goat Brand said the company will use the money to grow its brands, which include Chumbak, TrueBrowns, The Label Life, Pepe Jeans Inner Fashion, Voylla, Petcrux, and Nutriglow. It will also utilise the money to expand through channels including fast commerce, offline stores, and exports.
“Our brands are seeing good profitable scale up, with a couple of them just a few quarters away from the Rs 100-crore ARR (annualised revenue run rate) mark,” Vasudev said in a statement.
