GOAT Brand Labs raises $36 million from Tiger Global, Flipkart Ventures, Mayfield
GOAT Brand Labs has raised $36 million in its first-ever funding round from Tiger Global Management, Flipkart Ventures, and Mayfield.
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.
GOAT plans to utilise the funds in the acquisition of online sellers in fashion, beauty, personal care, home, and kitchen spaces.
Commenting on the investment, Rishi Vasudev, co-founder of GOAT Brand Labs in a statement said: “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,” Vasudev said.
Ravi Iyer, senior vice president and head of corporate development at Flipkart said: “Our investment in GOAT Brand Labs is aligned to this intent, as we aim to work with early-stage start-ups that have the potential to address emerging business and consumer requirements leveraging the power of technology.”
GOAT, which stands for Greatest Of All Time, 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.
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