PE Fund Investments
D2C apparel brand The Souled Store raises Rs.135-Cr from Xponentia, Elevation Capital, others
Mumbai-headquartered The Souled Store, a direct-to-consumer (D2C) apparel brand, has raised INR 135 crore (around USD 16 million) in a funding round led by Xponentia Capital. The company's existing investors Elevation Capital and RPSG Capital also participated in the round. The firm will use the fresh capital to expand into new product categories and launch over 100 stores across India within the next 2 years. The investment will also be used to offer a buyback of 100% of vested employee options. Founded in 2013 by Patel, Aditya Sharma, Rohin Samtaney, and Harsh Lal, The Souled Store offers official merchandise for brands such as Marvel, DC, Netflix, Star Wars, and Harry Potter.
From the Venture Intelligence PE-VC Deal Database: Between Nov-18 and Aug-21, The Souled Store had raised over USD 13 M from Elevation Capital and RPSG Capital. It had also attracted venture debt from Alteria Capital in May-22. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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