The Souled Store raises Rs 75 crore from Elevation Capital, Retail News, ET Retail

Lynn Imbier

CHENNAI: Youth everyday use manufacturer The Souled Retail store has lifted Rs seventy five crore in Series B funding led by Elevation Cash. The expenditure spherical also saw participation from angel traders Sahil Barua (co-founder & CEO, Delhivery), Gunjan Soni (CEO, Zalora), and Ashish Goel (founder & CEO, City Ladder), […]

CHENNAI: Youth everyday use manufacturer The Souled Retail store has lifted Rs seventy five crore in Series B funding led by Elevation Cash.

The expenditure spherical also saw participation from angel traders Sahil Barua (co-founder & CEO, Delhivery), Gunjan Soni (CEO, Zalora), and Ashish Goel (founder & CEO, City Ladder), amongst other executives at a variety of startups.

The corporation said it would use the funds for increasing their merchandise portfolio on both of those accredited products and everyday use, creating greater manufacturer awareness and offline retail presence pan India, increasing manufacturing capabilities, and ramping up team.

Launched in 2013 by Vedang Patel, Aditya Sharma, Rohin Samtaney, and Severe Lal, The Souled Retail store was a single of the first brand names to deliver in accredited lover products of world wide corporations such as Disney, Warner Bros, WWE, IPL teams, EPL Teams and Viacom18.

The corporation patterns, manufactures and retails a vast assortment of apparel products and solutions with patterns ranging from pop-society themes like superheroes (Marvel and DC universes), films (Star Wars, Harry Potter), Tv demonstrates (Buddies, Video game of Thrones), and cartoons (Looney Tunes, Tom & Jerry), and has partnered with one hundred fifty+ franchisees.

“The focus likely ahead will be to introduce a selection of new merchandise groups, improve our buyer arrive at, and increase our offline presence pan India to fulfil our goal of crossing Rs 1,000 crore GMV by 2025,” Vedang Patel, co-founder and CEO, The Souled Retail store, said.

The corporation was bootstrapped for the first five years and been given seed funding from RPSG Ventures in November 2018. Considering that then, the corporation has grown more than 4X. The Souled Retail store has more than a few million registered users and suggests it is on keep track of to do a Rs 500 crore GMV future year.

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