Bengaluru, June 3, 2025 – Snitch, the fast-growing D2C menswear brand, has raised $40 million (₹340 crore) in its Series B round led by 360 One Asset, with participation from existing investors IvyCap Ventures, SWC Global, and new backers including the Ravi Modi Family Office (founders of Manyavar). The funding values Snitch at ₹2,500 crore ($294 million)—a 5x jump from its previous valuation of ₹500 crore.
Breaking Down the Deal
Lead Investor: 360 One Asset anchored the round, betting on Snitch’s "trend agility + omnichannel" model.
New Backers: Ravi Modi Family Office joins, signalling confidence from established apparel players.
Growth Trajectory: Valuation surge reflects Snitch’s profitability and ₹500 crore+ net sales in FY25 (aiming for ₹1,000 crore this fiscal year).
Where Will the Funds Go?
Offline Expansion: Scale from 58 stores to 100+ across top 20 Indian cities, with plans to enter the Middle East & South Asia.
Quick Commerce Play: Convert stores into dark stores for hyper-fast deliveries via Snitch’s integrated app (limited third-party reliance).
Category Expansion: Launch new product lines while maintaining weekly design drops—a key differentiator.
Founder’s Vision:
*"We’re doubling down on our own channels—even quick commerce will be primarily self-driven. 100+ stores by 2025’s end isn’t just retail; it’s our delivery backbone,"* said Siddharth Dungarwal, Founder & CEO.
Why Investors Are Betting Big
Capital Efficiency: Lean manufacturing + full-stack control (design to delivery) keeps margins healthy.
Digital-First Meets Offline: 360 One’s Chetan Naik highlighted Snitch’s "rare blend of growth, unit economics, and omnichannel execution."
Market Timing: Quick commerce for fashion is heating up—Snitch’s app-integrated dark stores could set a benchmark.
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