Shark Tank India Success Boosts Snitch's Growth and Expansion

Introduction to Snitch

Snitch is a prominent online brand specializing in men's clothing, offering a diverse range of products such as T-shirts, shirts, trousers, jeans, cargo pants, jackets, and sweaters. It operates in the B2C market, focusing on retail and consumer goods.

Founder Siddharth Dungarwal

Siddharth Dungarwal, an experienced entrepreneur with a background in commerce, founded Snitch in 2020 after identifying a gap in the market. Prior to Snitch, he successfully ran a men’s shirt brand called Mr & Mr.

Shark Tank India Appearance

Siddharth pitched Snitch on Shark Tank India, seeking 1.5 crore INR for 0.5% equity at a 300 crore valuation. The pitch impressed the investors, leading to an all-five sharks deal of 1.5 crore INR for 1.5% equity at a 100 crore valuation.

Business Performance

Before appearing on Shark Tank, Snitch handled 2000 daily orders, had 50,000 daily website visitors, and achieved 5 lakh app downloads. The brand's monthly revenue was 9.3 crore INR with a 5% EBITDA.

Post Shark Tank Growth

Following the Shark Tank feature, Snitch's revenue increased by 30%, reaching 11 crore INR monthly. The company also secured $13 million in Series A funding to scale talent, technology, and initiate an offline retail strategy.

Funding Rounds and Investors

Snitch raised a total of $13.5 million in two funding rounds. The first, an Angel round in January 2023, raised $184,000, followed by a Series A round in December 2023, raising $13.3 million from investors like SWC and IvyCap Ventures.

Market Position and Competitors

Snitch ranks 2nd among its 998 competitors, including notable brands like Bewakoof and Styched. The competitive market has seen over $512 million in funding across 106 rounds, highlighting active investment and growth.

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