D’chica Raises Rs 1.6 Crores From Velocity

Bengaluru, twenty seventh January 2023: Premium attire & vogue model D’chica has raised 1.62 Crores from Velocity. since Aug 2020. India’s largest revenue-based financier.D’Chica was based in 2019 by sister-in-law duo Vani Chugh Kabra & Richa Kapila with a mission to remodel the wants of teenage women as they transition into womanhood. Their core merchandise embrace fashionable and comfortable innerwear together with a vogue line of sportswear, loungewear, and footwear.

Since its launch just some years again, the D2C model has soared to unimaginable heights. Closing their monetary 12 months 2021-22 with a powerful Rs 6.6 crore in income, the teenager’s necessities & utility-based vogue startup is ready to shut the present monetary 12 months at 13 crores.

D’chica model has additionally received a number of Mother’s alternative and Business development awards, together with the celebrated TimeSheUnltd Award, for his or her modern designs and memorable enterprise development. The model has a robust presence throughout e-commerce platforms reminiscent of Amazon, Myntra, Ajio, Firstcry, Jabong, Zivame, and so forth, and exports its innerwear vary to US, UK & Germany as effectively. The model kicked off its offline operations in Delhi NCR & UP in January.

In response to the founders, at D’chica, they attempt to steadiness the proper mixture of what youngsters love and relate to and what their moms would wish to allow them to swipe their playing cards for.

“The teenager demographic in India has lengthy been disregarded by conventional attire manufacturers. Nonetheless, we noticed a white area to create high-quality utility merchandise that additionally integrated up-to-date vogue tendencies. Now we’ve seen even bigger names like Jockey and Puma becoming a member of within the motion,” mentioned Vani, Co-founder, D’chica.

Talking in regards to the development of her firm and up to date funding he raised from Velocity, Richa Kapila, Co-founder, D’chica, mentioned, “Our merchandise have been met with an astounding response, not simply in metropolitan cities, however throughout tier-2 and tier-3 cities together with Patna, Indore, Vizag, Visakhapatnam, and Shillong as effectively.”

“We selected revenue-based financing to retain our firm’s autonomy and hold management in our fingers. We didn’t wish to go the normal VC route till we had achieved our focused run fee, we raised our pre-series A solely after we had a strong proof of idea with our ARR and imaginative and prescient. Velocity’s help has been monumental in boosting our operations and giving us the instruments to succeed in better heights. With this funding, we are going to ramp up our advertising and hiring efforts. We strongly imagine this funding will take our enterprise additional than ever earlier than!” Richa added.

Rising consciousness amongst children concerning consolation and vogue provides additional gas to D’chica’s development story. In response to estimates, India’s kidswear business is at the moment value $16.62 billion and is predicted to develop at a CAGR of 5.6% from 2022-2027. Additionally, youngsters make up about 19% of India’s total inhabitants of youngsters.

Talking in regards to the spherical of financing, Abhiroop Medhekar, CEO of Velocity, mentioned, “We’re thrilled to be partnering with D’chica. India is residence to roughly 19% of adolescents, making it a largely untapped market. We’re assured within the founders and their method to catering particularly to digital natives – from technique via enterprise growth. We anticipate this thrilling collaboration and look ahead to supporting D’chica as they proceed scaling better heights!”

Velocity. in, a Bengaluru-based fintech, is India’s largest revenue-based financier. Since commencing operations in early 2020, the fintech firm in the present day has a repeat buyer fee of 78%. With Rs 3,300 crore of fundable revenues related to Velocity’s platform, the fintech has already processed 1,000+ D2C investments.