JIIF incubated startup Select Brands raises Rs 6.5Cr in pre-Series A funding round

JITO Incubation Centre (JIC), part of JITO Incubation and Innovation Foundation (JIIF), incubated Select Brands, has raised Rs 6.5 crore in a pre-Series A funding round.

The funding round was led by Agra Gwalior Pathways and Airen Holdings. Other marquee investors include We Founder Circle, Prataap Snacks, Apricot Foods, Workie, and IVY League Ventures.

Aiming to become an umbrella brand for D2C brands

Founded in 2022 by Agam Choudhary and Saksham Jain, Select Brand said it focuses on delivering innovative products and experiences to its customers. The startup aims to become an umbrella brand for multiple Direct-to-Consumer (D2C) brands. 

“We are elated by the infusion of funding we've received. This funding will play a crucial role in driving forward our expansion plans, empowering us to introduce new brands under the Select Brand umbrella. With the support of our investors and mentors, we are confident in our ability to achieve our growth targets," said Agam Choudhary, Co-founder of Select Brands.

What is the purpose of fundraising?

It plans to use the raised funding to expand its current operations, explore new territories and broaden its reach through category expansion.

Select Brands possesses the capability to leverage emerging opportunities and achieve its goal of becoming a prominent player in the D2C market. With the backing of this funding, the startup will be able to launch new brands under the Select Brand portfolio, the release notes.

The startup's flagship product, Kyari, is a D2C brand specializing in home-grown plants. Select Brands claims that Kyari has received widespread acclaim, with sales reaching Rs 4 crore in its first fiscal year (FY-23) and currently recording monthly sales of approximately Rs 1.5 crore.

What did investors say about Select Brands?

Vikash Kawar, Vice-Chairman of JITO Incubation Centre, said, "We feel proud to witness the remarkable progress of Select Brands. This funding is a testament to their dedication and ingenuity in the competitive business landscape. It showcases the potential of startups incubated under JIIF's guidance."

"India is definitely making a mark with the tremendous D2C disruption. And one of the biggest factors for the growth of D2C brands in India is rapid digitization. Also because of the nation's high population, India will always be a D2C brand and we are contributing our part by supporting D2C startups with differential offerings and efficient user experience," Kawar said.