Despite the challenging global economic conditions, Snitch, a trailblazer in the fast fashion sector, has accomplished a significant milestone by concluding a Series A funding round of Rs 110 crore. SWC Global and IvyCap Ventures jointly led this funding round, which is noteworthy considering the difficulties faced by numerous late-stage D2C brands in obtaining capital. Alongside support from key angel investors, this investment will accelerate Snitch's growth in areas such as talent acquisition, technological advancements, and the development of an offline retail strategy. These efforts aim to further enhance the company's already impressive performance in the market.

Snitch, recognized for its agility and trend-setting approach, has consistently established elevated benchmarks within the industry. The inauguration of its initial store in Bangalore is a testament to its robust retail strategy and strong appeal to customers. With an extensive digital footprint, boasting over 2 million app downloads, Snitch has served diverse pin codes throughout India, showcasing its broad market reach and unwavering dedication to quality and innovation. The majority of Snitch's sales are derived from its website and app, supported by an expanding offline footprint and collaborations with prominent online marketplaces.

Discussing the investment, Tuck Lye Koh, Founding Partner at SWC Global, expressed, "Our choice to invest in Snitch is rooted in our confidence in their forward-thinking approach to fast fashion. Snitch's remarkable performance, particularly amid a challenging economic landscape, underscores its innovative business model and profound comprehension of consumer preferences. We are enthusiastic about supporting Snitch as they redefine the fashion retail sector, and we believe this partnership will drive both Snitch and the broader fashion industry forward".

Ashish Wadhwani, Co-Founder and Managing Partner of IvyCap Ventures will represent IvyCap Ventures on the Snitch board. Proudly surpassing a turnover of 100 crores+ in FY23, Snitch has exceeded expectations with an anticipated growth rate of over 100% in FY24. Additionally, Snitch is poised for further expansion by launching over 100 offline stores across India within the next 4-5 years. This expansion underscores Snitch's ongoing commitment to continuous growth and a prominent presence within the market.