High-end fashion platform Culture Circle has secured a strategic investment from OYO founder and CEO Ritesh Agarwal, taking its valuation over Rs. 100 crore (over US $ 12 million). The funding is a key milestone for the youth-focused brand, which earlier created waves on Shark Tank India by accepting a Rs. 3 crore (US $ 360,000) deal from Agarwal and Kunal Bahl—while rejecting a record-breaking Rs. 8 crore (US $ 960,000) offer to focus on sustainable growth.
Agarwal said that Culture Circle is among the most thrilling youth-led platforms to come out of India, and their trust-and-experience focus is differentiated.
Co-founders Devansh Jain Nawal (IIM-A, former Goldman Sachs) and Ackshay Jain (former Google) referred to the tie-up as a value-based partnership. Jain said that this funding will turbocharge their in-house developed proprietary AI engine SourceX and drive category and global growth. The firm has experienced explosive 4x growth, with a valuation of over Rs. 400 crore (US $48 million).
With over one million monthly visitors and 4,000+ authentic sellers, Culture Circle is in the top 50 Indian shopping apps.
The company has physical outlets in Delhi and Hyderabad and is planning new ones in Gurugram, Mumbai, and two other cities. Its founders were recently included in Forbes Asia’s 30 Under 30 list, affirming their increasing role in global luxury retail.
