Roll-up e-commerce startup G.O.A.T Brand Labs has raised $50 million in its Series A1 funding round led by Winter Capital, 9Unicorns, Venture Catalysts, Vivriti Capital and Oxyzo and participation from most of its existing investors, said the company on June 16.
This comes after Winter Capital ledHouse of Food Brands CureFood's Series C round earlier this month.
The Tiger Global-backed company had last raised $36 million in July of 2021.
The house of brands has so far acquired 15 direct-to-consumer (D2C) brands including The Label Life - A Celebrity-Styled Lifestyle Brand, Voylla (Fashion Jewelry), trueBrowns & Abhishti (Indian Wear), Frangipani (Children Wear), Neemli and Nutriglow (Beauty & Skin Care) and Pets brand Doggie Dabbas, Pepe Inner fashion.
Additionally, the company also said that it is in talks with 12 more brands.
G.O.A.T, which stands for Greatest Of All Time was started by Rishi Vasudev, who headed Flipkart Fashion and Landmark Group’s Lifestyle International; along with Rameswar Misra, who worked in the direct-to-consumer and apparel space for nearly seven years.
G.O.A.T is modelled around US-based Thrasio which acquires online sellers from Flipkart and Amazon who have shown early traction and helps them use G.O.A.T’s brand, technology and operational expertise.
“We will continue to acquire high potential D2C brands across the Lifestyle segments and scale them to huge outcomes,” said Rishi Vasudev, co-founder & CEO of G.O.A.T Brand Labs.
The startup competes with other well-funded firms including Mensa Brands, GlobalBees and 10Club, Upscalio among others.
Moneycontrol earlier reported that D2C brands are facing stagnating growth, customer-acquisition challenges and intense competition, combined with a sharp decline in funding, which is anticipated to lead to more consolidations in the space this year. Further, experts say that this could in turn be an advantage for roll-up e-commerce firms which can acquire these brands at lesser costs.
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