Tiger Global-backed direct-to-consumer (D2C) brands aggregator G.O.A.T Brand Labs has raised $50 million as part of its Series A1 funding round from a clutch of new and existing investors, per an announcement.
Founded in 2021, G.O.A.T had raised its first round of $36 million in July last year with investments from Tiger Global, Flipkart Ventures, Mayfield, Nordstar, Better Capital, Trifecta and others.
“Our journey of taking Indian D2C brands global has just started. We are fortunate to partner with great founders and continue to learn and build capabilities in this fast changing space. We will continue to acquire high potential D2C brands across the Lifestyle segments and scale them to huge outcomes,” said G.O.A.T Brand Labs co-founder and CEO Rishi Vasudev.
Since inception, G.O.A.T has completed 15 acquisitions of D2C brands in the lifestyle space. Some of the brands in its portfolio include The Label Life, a celebrity-styled lifestyle brand; Voylla (fashion jewellery), trueBrowns & Abhishti (Indian wear), Frangipani (children’s wear), Neemli and Nutriglow (beauty and skin care) and pets brand Doggie Dabbas.
G.O.A.T has also acquired long-term rights for Pepe Jeans Inner fashion.
The company said it is in advanced discussions with another 12 brands, which will be announced in the coming days.
Founded by Vasudev and Rameswar Misra, G.O.A.T intends to partner with digitally native brands by investing in them and providing them with a plug-and-play platform to accelerate their growth.
G.O.A.T Brand Labs competes with deep-pocketed startups, including GlobalBees and Mensa Brands. While Mensa Brands became the fastest startup to turn unicorn after raising $135 million as a part of its Series B funding in November last year, GlobalBees, too, attained the unicorn status a month later after securing $111 million in Series B funding from Premji Invest, SoftBank, FirstCry and Steadview.
Other e-commerce rollup startups based on the Thrasio model are 10club, Evenflow and Powerhouse91.