New Delhi: Vegan lifestyle brand Zouk has raised $1.5 million (about Rs 11.75 crore) in a pre-Series A funding round led by Stellaris Venture Partners. The founders of Wow Skin Science and existing investor Titan Capital also participated in the fundraising.
- The company raised seed capital from Titan Capital and founders of Beardo and Mamaearth earlier this year, the company said.
- The fresh capital will be used for expansion in India and globally, strengthening the supply chain and distribution channels and extending the product line.
Founded by IIM Ahmedabad graduates Disha Singh and Pradeep Krishnakumar, PETA- approved Zouk makes laptop bags, tote handbags, slings and chain wallets using “vegan leather” that’s sourced and manufactured in India. The products are made by local artisans in the company’s in-house facility in Mumbai.
“In Stellaris, we have found the right partner, who can guide us to become an iconic brand in the coming years,” said Disha Singh, co-founder and chief executive. “We are excited that Stellaris partner Rahul Chowdhri will join our board. His vast experience of guiding multiple companies…will be a big plus for us.”
According to Chowdhri, India’s direct-to-consumer (D2C) market is in its prime today, with consumers increasingly choosing to buy online amid a pandemic.
“There has never been a better time to build new-age consumer brands in and from India,” Chowdhri said. “E-commerce marketplaces and social media platforms provide level playing field for challenger brands like Zouk to compete with incumbent brands, and carve their own niche.”