OYO’s Ritesh Agarwal invests in Culture Circle at over Rs 100 Cr valuation

Culture Circle, a fashion commerce platform focused on luxury and streetwear, has raised a strategic round from Ritesh Agarwal, founder and chief executive of OYO. The funding was done at a valuation of more than Rs 100 crore. The startup had earlier secured Rs 3 crore on Shark Tank India from Agarwal and Kunal Bahl, declining a larger Rs 8 crore offer.

Culture Circle claims to have crossed Rs 400 crore in overall valuation following its recent growth. The platform reports 1 million monthly users and over 4,000 verified sellers. It has recorded 4 times growth in recent quarters.

The company was started by Devansh Jain Nawal and Ackshay Jain. Nawal is an IIM Ahmedabad alumnus and former Goldman Sachs employee. Jain has earlier worked with Google and leads JIIF Gurugram.

The founders said the capital will be used to grow SourceX, the firm’s AI-led authentication system, and to expand into new product categories and global markets. It also plans to open new offline stores in Gurugram and Mumbai.

Culture Circle operates flagship stores in Delhi and Hyderabad and runs a resale marketplace for branded sneakers and luxury fashion. The company is planning its global launch later this year.