Bewakoof raises USD 4 million from IvyCap Ventures to fuel future growth and expansion
Mumbai– Bewakoof, a D2C fashion brand, secures USD 4 million from IvyCap Ventures. With this infusion of capital, the brand is looking at facilitating superior customer experience, invest in technology and newer product categories as it prepares for next phase of growth .
Founded in 2012 by Prabhkiran Singh and Siddharth Munot, Bewakoof is a D2C fashion brand built on social media, with content marketing being a key growth strategy. The brand philosophy is to add lightheartedness to life through its self-expressive products and fun shopping experiences. Bewakoof creates content that is relatable and contemporary humor that has built an organic following for the brand of 4.5 Million fans on Facebook and 1.4 Million fans on Instagram. The content is liked and shared in thousands by the consumers daily, driving good brand awareness and recall, especially in the smaller towns. The brand is popular for its offerings in casual-wear and has recently launched indo-fusion ethnic and sleepwear. Along with a range of collaborations with Marvel, DC Comics, Looney Tunes, Star Wars, F.R.I.E.N.D.S, and Disney.
Incorporating the regional language prints on western clothing their products resonate the spirit of Indian culture. It is this spirit of the Indian inspiration that has helped the brand to grow.
“Having grown significantly in the last couple of years, we will continue investing in improving the customer experience through technological innovation and building a strong team. We expect to cross INR 1000crs in revenue by FY24, which would make it one of the fastest journeys to touch INR 1000crs by a fashion player in the country,” Prabhkiran Singh, Co-Founder and Director, Bewakoof said.
Commenting on the investment, Vikram Gupta, Founder and Managing Partner, IvyCap Ventures Advisors Pvt Ltd, said, “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.