[Funding] D2C Fashion Brand Bewakoof raises USD 4 million from IvyCap Ventures

D2C fashion brand Bewakoof has raised funds from IvyCap Ventures. The startup had earlier raised Rs 30 crore from IvyCap Ventures Trust Fund II. The fresh infusion has come 10 months after their previous round. In May 2020, Bewakoof had raised Rs 8 crore after raising a round from Investcorp in October 2019. The fresh proceeds will help the company in the growth journey towards a Rs 1000 crore company by FY24, it states. The company also intends to invest the funds into superior customer experience, technology and newer product categories as it prepares for the next phase of growth.

“We having grown significantly in the last couple of years,” states Director and Co-Founder Prabhkiran Singh. “We will continue to invest in improving the customer experience through technological innovation and building a strong team.”

About Bewakoof

Prabhkiran Singh and Siddharth Munot built the brand via social media initially. The key to marketing has always been self-expressive products. With a scale of over 200 Crs in revenues in FY19, the brand has managed to maintain a good mix of growth and capital efficiency. It has strengthened its sales to more than 20,000 products per day. It also has a customer base of over 10 million.

The expressions of the brand's products are relatable and Indian in nature. This includes prints in regional languages (Hindi, Marathi, Bengali, Telugu, Gujarati, etc). As the smaller towns of India have shifted online in the last 3 years, the USP of Indian Inspiration and regional languages have helped the brand grow. The brand is popular for its offerings in casual-wear and has recently launched Indo-fusion ethnic and sleepwear. It also has a range of collaborations with Marvel, DC Comics, Looney Tunes, Star Wars, F.R.I.E.N.D.S, and Disney. Further, Bewakoof currently has 4.5 Million fans on Facebook and 1.4 Million followers on Instagram.

Commenting on the investment, Vikram Gupta, Founder and Managing Partner, IvyCap Ventures Advisors, “The contemporary offerings of the Bewakoof make it stand out from the rest in the segment of the industry. The Company has built a strong connect with its customers and we believe that our investment in the company will help further establish its leadership in the market. We are extremely happy to work with Prabhkiran and Existing Investors in this next phase of growth.”