On Wednesday, Bewakoof has closed a Pre-Series B round of Rs 60 crore led by InvestCorp. Bewakoof is a D2C fashion brand. The firm is very popular among Indian youth due to its latest fashion trends.
Details about Latest Funding Round of Bewakoof
Bewakoof, the latest mobile accessories and t-shirt seller, has raised Rs 60 crore. IvyCap Ventures and Spring Marketing Capital actively participated in the current round, while InvestCorp led the recent pre-Series-B round. The firm has raised over Rs 170 crore to date.
Bewakoof plans to invest current funds in marketing, branding, technology and talent acquisition. The D2C brand also wants to achieve Rs 2,000 crore in sales in the next four years.
IvyCap, the current round investor, has full trust in the Bewakoof business model due to its innovation in designing and marketing the products.
Talking about the same, Vikram Gupta, Founder and Managing Partner, IvyCap, said, “Innovation is at the core of Bewakoof, across designs, marketing and growth strategies. The brand has demonstrated significant growth over the past few years, backed by increasing operational efficiencies and a strong customer following. We remain excited to partner with the Company and Prabhkiran in this next leg of expansion.”
Bewakoof Recent Operations and Future Plans
Bewakoof has recently accelerated its celebrity-led digital campaigns with Rajkummar Rao, Sanya Malhotra and Farhan Akhtar. The company is further looking to bring other A-list actors on board to launch new high decibel marketing campaigns across different platforms including digital, TV, and other available media.
Bewakoof is also looking to engage its userbase by launching a gamification led loyalty program. It will be an exclusive offering for club members.
Talking about the past growth and future operations of Bewakoof, Prabhkiran Singh, Founder and CEO, Bewakoof, said, “Bewakoof has emerged as the largest D2C fashion brand in India, this growth has come on the back of rolling out new categories, exclusive fashion range with brands like Coca Cola. With the new fundraise, we are gearing to take the brand to an unexplored new customer base which will be enabled through mass media like TV and print campaigns.”
He further added, “Our focus is to bring the best of fashion at the best of prices to our customers who have shown unwavering support and are the reason that we stand apart in a crowded segment like fashion.”
The D2C fashion brand has claimed to serve over 6 million customers to date. As per the internal report, the startup is growing at a fast pace and adding one lakh+ customers every month. The startup is also looking to grow its subscribers’ base by providing extra benefits to tribe members. Currently, it has 150,000 subscribers and aims to reach 1 million in the next 2 years.