Snitch, the Bengaluru-based menswear brand redefining fast fashion in India, has raised ₹340 crore ($40 million) in a Series B funding round. The round, led by 360 One Asset, values the brand at over ₹2,500 crore. IvyCap Ventures, SWC Global, the Ravi Modi Family Office (investors behind Manyavar), and a group of angel investors also participated.
This new investment comes just over a year after Snitch secured ₹108 crore ($13 million) in its Series A round in December 2023. With this latest funding, Snitch plans to accelerate its retail footprint, expand its omnichannel operations, and prepare for global expansion.
Snitch’s Rise as a Cult Fashion Brand
Founded in 2020 by Siddharth Dungarwal, Snitch has rapidly built a strong reputation among Gen Z and millennial consumers. The brand offers trend-first menswear and releases new designs every week. Its fast fashion strategy, powered by a lean manufacturing process and high-frequency inventory model, ensures rapid delivery of the latest styles without overstocking.
Dungarwal positioned Snitch as more than just a clothing label. He created a community-driven brand that speaks directly to the fashion sensibilities of urban Indian men. Snitch’s website, mobile app, and growing network of physical stores together deliver a seamless shopping experience for style-conscious consumers.
Profitability and Hypergrowth
Snitch has combined speed and efficiency to build a profitable business while maintaining high growth. The company recorded ₹241 crore in revenue and ₹4.39 crore in profit for FY24, signaling a rare achievement in the consumer fashion space.
Snitch credits its success to a clear focus on customer preferences and swift turnaround times. It updates its inventory weekly, keeping the catalog fresh and aligned with changing trends. This dynamic inventory strategy helps Snitch avoid dead stock and maximizes sell-through rates.
The brand’s annual revenue has grown at 120% year-on-year. Unlike traditional fashion retailers that rely on seasonal collections and longer cycles, Snitch thrives on frequent new launches and tight production control. The team closely monitors fashion trends and quickly incorporates them into new designs using an agile supply chain.
Funding for Expansion
With the ₹340 crore raised in this round, Snitch aims to open 100 stores by the end of 2025, nearly doubling its current count of 55 stores. The brand also plans to explore innovative retail models such as quick commerce, aiming to reach customers within hours of placing an order. This could set a new standard in the Indian fashion industry.
In addition to scaling domestically, Snitch has set its sights on international markets. The team plans to build a global presence for Indian men’s fashion, taking its lean, trend-led model to other fashion-forward geographies.
Snitch’s omnichannel strategy plays a central role in its expansion plans. By blending the best of digital commerce with offline retail, the company delivers convenience, brand experience, and localized product offerings. Every new store supports online discovery and vice versa, creating a connected retail environment for customers.
Strong Backing from Leading Investors
Investors in this Series B round expressed strong confidence in Snitch’s long-term vision and operating model.
Chetan Naik, Senior Fund Manager and Strategy Head at 360 One Asset, described Snitch as “one of the fastest-growing profitable scaled D2C brands in India.” He highlighted the brand’s capital efficiency, digital-first mindset, and seamless omnichannel execution as standout factors.
IvyCap Ventures, which had invested in the Series A round, chose to reinvest. Vikram Gupta, Founder and Managing Partner, reinforced the firm’s belief in Snitch’s sustainable, capital-efficient growth. He praised the brand for maintaining profitability while expanding aggressively.
SWC Global’s Founding Partner, Tuck Lye Koh, emphasized Snitch’s transformation into a truly omnichannel player. He said, “Over the last 18 months, with the offline expansion, Snitch has established itself into a truly omnichannel brand. We are looking forward to our continued partnership with Siddharth and team to grow Snitch into a leading men’s apparel brand in the country.”
The Ravi Modi Family Office joined the round, further reinforcing Snitch’s credibility in the Indian ethnic and formalwear ecosystem. As early backers of Manyavar, the office brings deep sector experience that could help Snitch navigate both traditional and modern apparel markets.
A Brand Built for Speed and Scale
Siddharth Dungarwal built Snitch with a clear mission—to make Indian men’s fashion dynamic, aspirational, and fast-moving. He believes that Indian fashion brands can not only match global trends but also shape them.
“Built on belief, speed and an obsession with our customer, Snitch has been a force redefining fashion making in India for the world,” Dungarwal said after announcing the Series B round. “This fundraise is a backing to our belief that Indian fashion can move with speed, scale and confidence, and truly compete at a global stage.”
Dungarwal leads a young, innovation-driven team that constantly experiments with fabrics, fits, and features. Snitch’s in-house design team creates fresh collections each week, supported by manufacturers who can turn around new products quickly and in small batches. This approach reduces waste, supports sustainability, and keeps the brand in sync with consumer demand.
Journey from Shark Tank to Market Leader
Snitch first gained widespread public attention through its appearance on Shark Tank India Season 2, where it raised ₹1.5 crore from all six sharks at a valuation of ₹100 crore. That televised milestone introduced the brand to millions of potential customers and gave it a massive credibility boost.
Since then, the company has scaled exponentially. It attracted funding from top-tier VCs and family offices, opened dozens of physical stores across major Indian cities, and built a strong digital presence with an app and social commerce integrations. Snitch has consistently ranked among India’s most admired D2C brands in menswear, earning praise for its responsiveness, variety, and trend alignment.
Looking Ahead: Global Aspirations
Snitch’s vision now extends far beyond India. With the new capital, the company plans to enter international markets and compete with global fashion brands. Its lean supply chain, strong design DNA, and proven omnichannel model offer a competitive edge in both emerging and mature fashion economies.
The brand also aims to strengthen its quick commerce capabilities. By reducing delivery times and enhancing last-mile logistics, Snitch can offer same-day or next-day deliveries for new collections—a potential game-changer in India’s online fashion landscape.
In the coming quarters, Snitch will continue investing in technology, customer experience, data analytics, and offline retail formats. The team intends to build flagship stores in top-tier cities and experiment with immersive retail formats to engage urban consumers.