GOAT

Goat Brand Labs raises $21 Mn in debt and equity

GOAT

E-commerce roll up company Goat Brand Labs has raised $21 million in debt and equity from investors including BlackRock, Mayfield, NB Ventures, and others. The fresh funding has come after a gap of more than two years for the Bengaluru-based company.

Goat Brand also added that the round will be closed at about $30 million. The new funding will be utilised to fuel the growth of its portfolio brands such as Chumbak, trueBrowns, The Label Life, Pepe Jeans Inner Fashion, Voylla, Petcrux, and Nutriglow.

GOAT is a marketplace roll-up platform that acquires direct-to-consumer (D2C) brands and scales them with its expertise. The company has around 19 subsidiaries under its portfolio.

GOAT Brand Labs’ revenue from operations jumped 746% to Rs 139.6 crore in FY23 from Rs 16.5 crore in FY22. The firm’s losses increased by 158% to Rs 80.28 crore in FY23 from Rs 31 crore in the previous fiscal year.

According to the company’s co-founder Rishi Vasudev, it is all set to hit a profitable revenue of over Rs 500 crore ARR in the next 9-12 months.

As per startup data intelligence platform TheKredible, GOAT Brand Labs had raised $87 million in total before this round. As of the last funding round, Tiger Global was the largest external stakeholder followed by Flipkart and Mayfield India.

Head to TheKredible for the complete shareholding pattern.

The funding in e-commerce roll up space saw a sharp decline in the past couple of years when compared to the 2021-22 period. 

While Mensa Brands has been able to raise debt at regular intervals, the remaining players in this space either pivoted or struggled to scale. Recently, GlobalBees raised $18 million debt from Avendus. The company also raised funding after more than two years. 

Globally, Amazon aggregator Thrasio was near bankruptcy. However, it recently said that it has emerged from the Chapter 11 bankruptcy and appointed Stephanie Fox as its chief executive officer.

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