In its first-ever funding round, GOAT Brand Labs has raised US $ 36 million from Tiger Global Management, Flipkart Ventures and Mayfield.
Bengaluru-based GOAT (Greatest of All Time) plans to utilise the funds in the acquisition of online sellers in fashion, beauty, personal care, home and kitchen spaces.
GOAT was started by Rishi Vasudev, along with Rameswar Misra. It is modelled on the Boston-based e-commerce start-up Thrasio, which acquires small merchants and brands on leading e-commerce platforms and helps grow their business.
Nordstar, Better Capital, and angel investors such as Dailyhunt’s Virendra Gupta, Udaan’s Sujeet Kumar, Manipal Group’s Ranjan Pai and BharatPe’s Suhail Sameer also participated in the funding round.
“Through this venture, we are bringing together passionate entrepreneurs, their (direct-to-consumer) D2C brands, marquee investors, industry experts and a dynamic team, who believe in the philosophy of partnering and nurturing. We want these brands to have access to the best resources so that they scale rapidly to become GOATs,” said Rishi Vasudev, Co-founder of GOAT Brand Labs.
“The potential of the D2C market in India will only continue to grow and GOAT Brand Labs is well positioned to effectively tap this, while helping brands scale. We are excited to partner with Rishi, Rameswar and team, as they build their tech-enabled platform and make the best resources available to native brands” said Scott Shleifer, Partner, Tiger Global.