Bengaluru-based roll-up brands firm GOAT Brand Labs raises $21 million in debt and equity

Bengaluru-based ecommerce roll-up startup GOAT Brand Labs has raised $21 million in a combination of debt and equity funding. 

This funding round was led by prominent investors, including BlackRock, Mayfield, and NB Ventures. 

The startup didn't disclose the specific breakdown between debt and equity or the valuation at which the funding was secured. 

Purpose of fundraising

The newly raised capital will be used to expand and grow Goat Brand Labs' diverse portfolio of brands, which includes Chumbak, TrueBrowns, The Label Life, Pepe Jeans Inner Fashion, Voylla, Petcrux, and Nutriglow. 

"We are seeing strong tailwinds in the D2C space. Given the strength of our brands, an omnichannel play is panning out. We will use the capital from this round largely for growth - expanding our business in Quick Commerce, exports, and offline stores," said Co-founder Rishi Vasudev.

The startup will focus on scaling up these brands through various channels to ensure sustainable and profitable growth.

Aiming to achieve profitability

Goat Brand Labs is currently operating at an annualized revenue run rate (ARR) of Rs 370 crore and aims to achieve profitability on earnings before interest, taxes, depreciation, and amortization (EBITDA) basis in the latter half of the current financial year.

Vasudev highlighted that a couple of brands in their portfolio are close to reaching the Rs 100 crore ARR mark. The startup anticipates hitting a profitable revenue of over Rs 500 crore ARR within the next 9 to 12 months.

G.O.A.T was founded by Rishi Vasudev and Rameswar Misra, who bring with them decades of expertise in this space. Vasudev, a veteran retail executive, previously headed Flipkart's fashion business.