Luxury fashion startup Culture Circle has received new funding from Ritesh Agarwal, the founder and CEO of OYO. The amount of the investment hasn’t been shared, but the company is now valued at over INR 100 crore.
Earlier, on Shark Tank India, Culture Circle got a INR 3 crore investment for 3% equity from Ritesh Agarwal and Kunal Bahl (co-founder of Snapdeal and Titan Capital), according to media reports.
Now, the startup’s value has jumped to over INR 400 crore. It is growing fast — 4 times bigger than before, with over 1 million users each month and more than 4,000 verified sellers on its platform.
According to the company, Culture Circle regularly ranks among India’s top 50 shopping apps.
The new funding will be used to grow SourceX, its AI-powered platform, and to expand into new product categories and international markets.
“Culture Circle is one of the most exciting youth-first platforms to emerge from India. Their focus on trust and experience makes them truly stand out,” Agarwal said.
Devansh Jain Nawal, co-founder and CEO of Culture Circle, said the partnership is rooted in shared values. Co-founder and COO Ackshay Jain added that the company is creating a cultural movement.
Culture Circle was started by Devansh Jain Nawal and Ackshay Jain. It’s a fashion platform that focuses on luxury and streetwear.
The company has main stores in Delhi and Hyderabad and also runs a resale marketplace where people can buy and sell branded sneakers and luxury fashion.
Read more- Origgin Launches $23M Fund to Turn University Inventions into Global Startups
