Fashion commerce startup Culture Circle has raised a new strategic funding round from Ritesh Agarwal, Founder and CEO of OYO, valuing the company at over ₹100 crore. The investment follows Agarwal’s earlier backing of the startup on Shark Tank India.
The newly raised capital will be used to scale SourceX, the company’s AI-powered authentication system, and expand Culture Circle’s presence across new product lines, offline retail stores, and international markets.
Founded by Devansh Jain Nawal, an IIM Ahmedabad alumnus and former Goldman Sachs executive, and Ackshay Jain, an ex-Google professional and current leader at JIIF Gurugram, Culture Circle has quickly gained traction in India’s fashion-tech space.
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The startup had earlier secured ₹3 crore on Shark Tank India from Agarwal and Snapdeal co-founder Kunal Bahl, choosing strategic investors over a higher offer of ₹8 crore. Since then, Culture Circle claims to have crossed a valuation of ₹400 crore, with over 1 million monthly users and a network of more than 4,000 verified sellers.
The company operates flagship stores in Delhi and Hyderabad and is now eyeing new outlets in Gurugram and Mumbai.
Culture Circle runs a resale marketplace focused on branded sneakers and luxury fashion and is preparing for a global expansion later this year.
