D’chica, a Delhi-NCR based direct-to-consumer (D2C) fashion brand, has raised Rs 1.62 crore from revenue-based financier Velocity.
As per the startup, the raised funds will be deployed for hiring and marketing.
D’chica | Gen Z Focussed D2C Fashion Brand
Founded by Vani Chugh Kabra and Richa Kapila in 2019, D’chica is a Gen z focussed direct-to-consumer (D2C) fashion brand offering innerwear along with a fashion line of sportswear, loungewear and footwear.
As per Richa, their products have been met with a great response, not just in metropolitan cities but across tier-2 and 3 towns, including Patna, Indore, Vizag, Visakhapatnam, and Shillong as well.
The D2C brand sells its products on e-commerce platforms such as Amazon, Myntra, Ajio, Firstcry, Jabong, and Zivame and has a presence in countries like US, UK and Germany as well.
D’chica claims to have closed FY22 with Rs 6.6 crore in revenues and expects to close the current financial year at Rs 13 crore.
Founded by Abhiroop Medhekar, Khichariya, and Saurav Swaroop in 2020, Velocity is a revenue-based financing platform offering upto ₹4 Crores of fast, flexible, and non-dilutive growth capital to boost marketing and working capital spends.
In November 2021, the Bengaluru-based platform raised $20 million in a Series A funding round led by Peter Thiel’s Valar Ventures. In November 2022, the platform invested Rs 2 crore in Suwasthi, a Delhi-based health and nutrition startup.
Operated by White Wizard Technologies Pvt Ltd, Velocity competes with the likes of GetVantage, Klub, and N+1 Capital.
Over the years, the direct-to-consumer (D2C) approach has become the first choice of businesses. Backed by rising internet users in India, increasing smartphone penetration and growing consumer interest, D2C brands in India are estimated to become a $60 billion industry by FY27, as per a report by Shiprocket.
In January 2023, Zlade, a Pune-based direct-to-consumer personal care brand and Wakefit Innovations raised funds. Last year, several D2C startups raised funds, including Rapidbox, Good Health Company, Ustraa and XYXX Apparels.
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