GOAT Brand Labs, a direct-to-consumer (D2C) brand aggregator, has raised $50 million in its Series A1 round, it said in a statement Thursday. The round saw the participation of new investors such as Winter Capital, 9Unicorns, Venture Catalysts, Viviriti Capital, Oxyzo and most of its existing investors. These funds will be used to acquire new brands.
By July 2021, the company had raised $36 million from Tiger Global, Flipkart Ventures, Mayfield, Nordstar, Better Capital, Trifecta and others. That was around the time it was founded by Rishi Vasudev and Rameswar Misra.
Within a year of the operation, GOAT completed 15 acquisitions, targeting a portfolio of “well-known, strong and emerging D2C brands in the lifestyle space.” It is in talks to acquire 12 more brands in the coming days, the statement said.
Voylla, The Label Life, trueBrowns, Abhishti, Frangipani are some of her portfolio brands.
“We will continue to acquire high potential D2C brands in the lifestyle segments and scale them up to huge results. Our journey to bring Indian D2C brands globally has just begun. We are fortunate to partner with great founders and continue to learn and build capabilities in this rapidly changing space,” said Rishi Vasudev, co-founder and chief executive officer of GOAT Brand Labs.
The company has partnered with the brand’s founders to scale its portfolio by nearly 85% — since the acquisition — while becoming profitable, the statement concluded.
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