Snitch, a D2C menswear brand, has raised up to $40 million in its Series B round led by 360 ONE Asset. The round also included participation from existing investors IvyCap Ventures and SWC Global, along with the Ravi Modi Family Office and other angel investors.
The company plans to grow its offline retail presence across India’s top 20 cities and enter new international markets in the Middle East and South Asia. Snitch will also double down on fast deliveries through quick commerce and introduce new product categories.
In December 2023, Snitch raised INR 110 crore in its Series A round led by SWC Global and IvyCap Ventures. The company has reached INR 500 crore in net sales and is already profitable. It aims to hit INR 1000 crore in total sales by the end of this fiscal year.
Siddharth Dungarwal, Founder & CEO, stated:
“We’ve always had a strong belief in scaling our own channel. Even with quick commerce, it’ll primarily be through our own channel. We currently have 58+ stores, and hopefully by the end of this year, we’ll have over 100 stores, which will also function as dark stores. The app will be fully integrated with these stores, and that’s what we’ll use to scale up quick commerce.”
Chetan Naik, Senior Fund Manager and Technology Strategy Head at 360 ONE Asset, added:
“Snitch has built a unique playbook in Indian fashion, combining trend agility, digital-first execution, and omnichannel reach. With weekly design launches, full-stack execution, and lean manufacturing, Snitch delivers high growth with excellent capital efficiency.”
About Snitch:
Founded in 2020 by Siddharth Dungarwal, Snitch offers stylish, affordable menswear via its website, mobile app, and a growing number of physical stores. The company appeared on Shark Tank India (Season 2), raising INR 1.5 crore for 1.5% equity and being valued at INR 100 crore.
Snitch is now preparing for international expansion and a future IPO.
