GOAT Brand Labs Secured $50 Million in Series A1 Round

GOAT Brand Labs Startup Funding News

GOAT Brand Labs, a D2C brand aggregator has recently secured a funding of $50 million in their Series A1 round. New investors 9Unicorns, Winter Capital, Oxyzo, Vivriti Capital, Venture Catalysts, and other existing investors

OfBusiness' lending arm -  Oxyzo became a unicorn in March 2018. Entrackr sources say that Oxyzo has lent more than 20 startups. GOAT has raised from its first institutional round a funding of $36 million from Tiger Global Management and Flipkart Ventures. Its current investors include Better Capital, and Nordstar as well as a number of angels like Sujeet Kumar and Ranjan Pai.

Being a marketplace platform, GOATS acquires D2C (direct-to-consumer) brands and helps them scale with its expertise and market understanding.

After receiving profitable brands, the company claims its portfolio has experienced a nearly 85% increase in scale. Since its inception, the company has made 15 acquisitions, including Abhishti and Doggie Dabbas, as well as Frangipani, Hipkoo The Label Life, and Voylla. The company will be in discussions with 12 other brands in the coming weeks.

Also Read: Indian Startups Acquisitions & Fundings News [30 May- 04 Jun]

GOAT was founded by Rishi Vasudev and Rameswar Misra and focused on brands in fashion and beauty as well as home and kitchen space. Vasudev, Myntra, Jabong, and Flipkart Fashion were previously in charge of Flipkart's Fashion for over five years. Rameshwar was part of Voonik’s management team that merged with Bangladesh's ShopUp in February 2020.

GOAT is a D2C company optimization tool that works in the same way as Perch, Thrasio and Branded in America. It helps companies with expansion and marketing, growth hacking and process optimization.

GOAT is competing with two unicorns in the space: GlobalBees, Mensa Brands, and 10club. Evenflow, Powerhouse91 and Powerhouse91. Mensa reports that it raised $300 million equity and debt, while GlobalBees led by Nitin Agarwal & Supam Maheshwari has raised more than $260 millions in two funding rounds.

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Indian Startups Acquisitions & Fundings News [30 May- 04 Jun]

Startup Fundings News

This week the 33 Indian startups raised funds, and 28 of them received an estimated total of $525.81 million. MoEngage and Cuemath were among the top fundraisers who raked in the sums of $77 and $57 million, respectively. This week, 30 local startups raised funds worth around $250 million.

In the meantime, the amount of funding for five of the startups was not disclosed.

Growth/ late-stage deals

This week, nine late-stage and growth startups have taken on funds that include MoEngage's $77 million round as well as Cuemath's round of $57 million. In addition, fintech startup Slice and DC2's cosmetics company Sugar Cosmetics and cloud kitchen brand Curefoods have raked 50 million dollars each.

Early-stage deals

In the early stages of deals, 19 companies have acquired money in five different rounds. The gaming startup Eloelo was the highest on the list, with a $13 million round. The list comprises Aerospace company Bellatrix Aerospace and agritech startup Nutrifresh.

Unknown deals

Unotag, Glovatrix, Kwicpic, Offee, and EzeRx have not disclosed their financials.

City and segment-wise fundings

In the week that just ended, Bengaluru was on top in terms of the number of startup deals as well as the amount of money they raised. According to Fintrackr's statistics, 15 Bengaluru-based companies have raised money this week, totaling $297.54 million, or 56.59 percent of the total funds. This week, Mumbai-based and Delhi-based startups have raised $165.84 million and $45 million in 3 and 6 deals, respectively. They were followed by Hyderabad as well as Pune with 2 and 3 deals, respectively.

Startups in Fintech were among the leading segments in terms of the quantity of deals. Startups in this field received $85 million through four deals. D2C, edtech, SaaS, health tech, crypto, and E-V startups are followed on the list.

Startup Acquisitions News

Apart from more than 30 funding rounds, the week also saw 3 acquisitions.

The list includes the acquisition of OneDirect by Gupshup, data science startup Prakshep by Arya.ag and Verb Studio by Kafqa Academy.

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