Elevation Capital leads Rs 75 Cr Series B round in The Souled Store

Casual wear brand The Souled Store has raised Rs 75 crore or a little over $10 million in its Series B round led by Elevation Capital. Angel investors and founders of startups including Delhivery, Zalora, Mosaic Wellness, and Livspace have also participated in the round.

The fresh capital will be used to expand product portfolio on both licensed merchandise and casual wear and their manufacturing capabilities, hiring and expanding offline retail presence pan India, said the company in a press release.

Founded by Rohin Samtaney, Aditya Sharma and Vedang Patel, The Souled Store designs, manufactures and retails apparel products with designs ranging around pop-culture themes such as superheroes, movies and TV shows.

The platform claims to have partnered with over 150 franchisees and its product portfolio includes t-shirts, mobile covers, badges, boxers, notebooks, mugs, umbrellas among others. It also enables its users to create personalized t-shirts as well.

The company was bootstrapped for the initial five years until receiving seed funding from RP-SG Ventures in November 2018.