26.July.2021 – Bengaluru-based, G.O.A.T Brand Labs, a startup that boosts the growth of Direct to customer (D2C) brands, announced that it raised USD 35 Million, through a mix of debt and equity in Series A round.
The lead investors in this Series A round were Flipkart Ventures and Tiger Global. investors like Better Capital, Nordstar, and Mayfield, along with them some angel investors also laid hands in this round like Sujit Kumar (Udaan), Alex Kuruvilla (Managing Director, Conde Nast India), Neeraj Goenka (Texport), Suhail Sameer (BharatPe), Virendra Gupta (DailyHunt), and Rajan Pai (Manipal Group).
In the current funding round, G.O.A.T Brand Labs has raised an equal amount of equity and debt, which is USD 18 Million each, respectively.
Words from the investors –
Speaking about the investment done by Flipkart, Ravi Iyer, Senior Vice President and Head, Corporate Development, stated, “At Flipkart, we are consistently focused on identifying opportunities and building new partnerships that benefit the ecosystem at large. Our investment in G.O.A.T. Brand Labs is aligned to this intent as we aim to work with early-stage startups that have the potential to address emerging business and consumer requirements leveraging the power of technology. The leadership team at G.O.A.T. have deep experience in this segment, and we look forward to the transformation they will make in the D2C segment.”
Scott Shleifer, Partner at Tiger Global, mentioned the investment and said, “The potential of the D2C market in India will only continue to grow, and G.O.A.T. Brand Labs is well-positioned to effectively tap this while helping brands scale.”
About G.O.A.T Brand Labs
G.O.A.T Brand, which stands for “Greatest of All Time”, is a Thrasio-style firm, it is founded by Rishi Vasudev who has work experience of working as a Flipkart Executive and Rameswar Misra, former SVP at VOONIK.
This duo has expertise in digital marketing, brand building, operations, M&A and fashion Design.
Co-founder Rishi Vasudev said, “Through this venture, we are bringing together passionate entrepreneurs, their D2C brands, marquee investors, industry experts, and a dynamic team, who believe in the philosophy of partnering and nurturing. We want these brands to have access to the best resources so that they scale rapidly to become G.O.A.T’s.”
According to him, the firm will fuel the growth of D2C brands across, eCommerce platforms, marketplace, global market, offline market and further, by offering a platform that is tech-enabled for integration of end-to-end replete with deep expertise of digital marketing.
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