Menswear brand Snitch, known for its trend-first fashion and rapid product drops, has secured up to $40 million (approximately ₹340 crore) in a Series B funding round, valuing the company at over ₹2,500 crore.
The round was led by 360 One Asset, with participation from IvyCap Ventures, SWC Global, the Ravi Modi Family Office—the backers of Manyavar—and a group of angel investors.
The funding comes more than a year after Snitch’s $13 million Series A round in December 2023 and is a strategic move to push the brand further beyond digital into a full-fledged omnichannel presence. The startup aims to expand its physical footprint from over 55 stores to 100 by the end of 2025, and is also exploring quick commerce models and international markets.
Founded in 2020 by Siddharth Dungarwal, Snitch has carved a niche among Gen Z and millennial men with its fast-paced fashion drops and minimal-inventory model. Built on lean manufacturing and a tight turnaround supply chain, Snitch releases new designs every week and maintains a high refresh rate, allowing the brand to grow 120% year-on-year while remaining profitable.
“Built on belief, speed and an obsession with our customer, Snitch has been a force redefining fashion making in India for the world,” said Dungarwal. “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.”
Snitch first grabbed public attention when it appeared on Shark Tank India Season 2, raising ₹1.5 crore from all six sharks at a ₹100 crore valuation. Since then, the brand has seen exponential growth, closing FY24 with ₹241 crore in revenue and a profit of ₹4.39 crore.
Chetan Naik, senior fund manager and strategy head at 360 One Asset, praised the brand’s momentum, calling it “one of the fastest-growing profitable scaled D2C brands in India,” and credited Snitch’s “capital efficiency, digital-first execution, and omnichannel strategy” for setting it apart.
The round also marked a reinvestment from IvyCap Ventures. “Our reinvestment confirms our conviction in Snitch’s capital-efficient growth,” said Vikram Gupta, founder and managing partner.
Tuck Lye Koh, founding partner at SWC Global, added, “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.”
As it prepares to double down on growth, Snitch is positioning itself not just as a D2C success story, but as a global contender in the fast-evolving menswear space.
