Bengaluru-based D2C menswear brand Snitch has bagged $40 million in a fresh Series B funding round led by 360 ONE Asset, with participation from existing backers IvyCap Ventures and SWC Global. The Ravi Modi Family Office and a clutch of angel investors also backed the round, as the startup sharpens its expansion playbook.
This marks Snitch’s second major funding milestone, following its $13 million Series A in December 2023. With the new funds, the fashion upstart plans to more than double its offline retail footprint from 55 to over 100 stores by the end of 2025. It’s also eyeing bold moves into quick commerce and international markets, alongside category expansion into lifestyle and new apparel verticals.
Founded in 2020 by Siddharth Dungarwal, Snitch has quickly become a breakout name in India’s fashion landscape. The brand offers stylish and affordable menswear through its app, website, and an expanding network of offline stores that boast strong unit economics.
“With 120% year-on-year growth and a loyal customer base, we’re stepping into a bigger league,” said Dungarwal. “We’re building a world-class brand with India at its heart and agility at its core. As we gear up for global expansion and prepare for public markets, this marks a bold step toward creating one of India’s most iconic fashion stories.”
Snitch first caught national attention during its pitch on Shark Tank India Season 2, where it raised ₹1.5 crore for 1.5% equity at a ₹100 crore valuation from all six sharks — Anupam Mittal, Aman Gupta, Namita Thapar, Vineeta Singh, Peyush Bansal, and Amit Jain.
Since then, the startup has grown at a blistering pace. For the fiscal year ending March 2024, Snitch reported a 100% jump in revenues to ₹241 crore and clocked profits of ₹4.39 crore — a rare feat for a young D2C brand in a crowded market.
While the company has yet to publish its FY25 numbers, insiders say it is on track to hit even bigger milestones, with global markets and a public listing now firmly on the horizon.
From being a digital-first brand to setting sights on the world stage, Snitch’s journey is stitching together what could well be India’s next fashion unicorn-in-the-making.
