BlackRock, Mayfield, NB Ventures, and other investors have contributed a total of $21 million in debt and equity to the e-commerce start-up Goat Brand Labs. The Bengaluru-based company has received new funding after a lapse of over two years.
Goat Brand also mentioned that the round will end when it reaches roughly $30 million. Chumbak, trueBrowns, The Label Life, Pepe Jeans Inner Fashion, Voylla, Petcrux, and Nutriglow are just a few of the portfolio brands that will benefit from the additional funding.
Direct-to-consumer (D2C) brands are acquired by GOAT, a marketplace roll-up platform, and are then scaled using its expertise. About 19 subsidiaries make up the company’s portfolio.
From Rs 16.5 crore in FY22 to Rs 139.6 crore in FY23, GOAT Brand Labs’ operating revenue increased by 746%. From Rs 31 crore to Rs 80.28 crore in the previous fiscal year, the company’s losses rose by 158%.
Co-founder Rishi Vasudev predicts that in the upcoming nine to twelve months, the business will generate a profit of more than Rs 500 crore ARR.
According to the media, GOAT Brand Labs had already raised a total of $87 million. Tiger Global, Flipkart, and Mayfield India were the next two largest external stakeholders as of the most recent funding round.
When compared to the years 2021–2022, funding for e-commerce rollups has decreased dramatically in the last few years.
The other companies in this market either changed course or found it difficult to grow, while Mensa Brands has been able to raise debt on a consistent basis. GlobalBees recently obtained $18 million in debt from Avendus. After more than two years, the business also raised money.
Global Amazon aggregator Thrasio was on the verge of going bankrupt. Nevertheless, it recently declared that it had emerged from Chapter 11 bankruptcy, and Stephanie Fox was named its new CEO.
