Fast lifestyle retail chain GoodGudi raised Seed funding from multiple investors
Fast lifestyle retail chain GoodGudi, which will focus on home and consumer goods, has raised seed capital from a number of investors. AC Ventures, April Ventures, Capinity Partners, HNIs, and angel investors like Kunal Shah and Aprameya Radhakrishna also took part in the round, which was led by AC Ventures.
Despite the fact that the company withheld the amount raised, sources claim that the round’s size ranges from $800,000 to $1,000,000.
In the next 24 months, Goodgudi, which was founded by Anurag Gupta, Sagar Yarnalkar, and Chandan Kumar, hopes to open more than 40 retail locations. The Japanese retail behemoth Miniso and Goodgudi appear to be comparable in terms of brand positioning.
The company claims that its products will be utilitarian in nature and cover a range of areas, including home, travel, gifting, fashion, personal care, kitchenware, stationery, kids, and toys, among others.
The e-grocery startup Dailyninja was founded by Gupta and Yarnalkar, and in the early months of 2020, BigBasket, owned by Tata, purchased it.
“We want to test the Bengaluru market first and will open 7-8 stores in the next 12 months. Our differentiation lies in the frequent introduction of new designs and product ranges with something fresh and exciting hitting the shelves every 30 days. This approach aims to create an engaging and dynamic shopping experience for customers,” said Chandan Kumar in an interaction with the media.
Fast-moving consumer goods have had great success on a global scale, with well-known brands like Miniso, Daiso, Mumuso, and Ximivogue all running lucrative operations. More than 250 stores are currently served by Miniso, which has entered the Indian market. With the launch of Goodgudi, Gupta, and Yarnalkar are utilizing their offline play skills, which they developed while creating Dailyninja. To see how they perform as second-term business owners would be fascinating.
