Private Equity

VC Fund Investments

Casual wear player The Souled Store raises Rs.75-Cr from Elevation Capital, others

Forbes India  

Mumbai-based merchandise and casual wear brand The Souled Store has raised INR 75 crore in Series B funding, led by Elevation Capital. The round also saw participation from a clutch of angel investors, including Sahil Barua (co-founder and CEO of Delhivery), Gunjan Soni (CEO of Zalora and former CMO of Jabong), Ramakant Sharma (founder and COO of Livspace), and Ashish Goel (founder of Urban Ladder). The company intends to use the capital to expand its product portfolio, build brand awareness, expand offline retail presence across India, expand manufacturing capabilities, and ramp up hiring. It aims to cross INR 1,000 crore in gross merchandise value (GMV) by 2025. The Souled Store designs, manufactures and retails a range of apparel products with designs ranging from pop-culture themes like superheroes (Marvel and DC universes), movies (Star Wars, Harry Potter), TV shows (Friends, Game of Thrones), and cartoons (Looney Tunes, Tom & Jerry), and has partnered with over 150 franchisees.