The Souled Store Raises ₹135 Crore Funding Led By Xponentia Capital
The Souled Store raises Rs. 135 crore in the most recent Series C round, which is headed by Xponentia Capital who increased their shareholding in the company.
Popular online retailer The Souled Store has raised Rs 135 crore in its most recent investment round.
Together with other current investors such as RP-Sanjiv Goenka Group, DSG Consumer Partners, and Sequoia Capital India, the funding was headed by Xponentia Capital.
Three college buddies established The Souled Shop in 2013, and it has now developed into India’s top retailer of pop culture memorabilia.
The online store offers a variety of goods, such as T-shirts, phone cases, posters, and more, all using images taken from popular culture, TV series, movies, sports teams, and other sources.
The Souled Store intends to significantly increase its product choices with this most recent funding and make technical investments to improve the consumer experience.
The platform also plans to expand into Tier II and Tier III cities and improve its operations in current markets.
Aditya Sharma, a co-founder of The Souled Shop, stated in a statement: “We are thrilled to welcome Xponentia Capital to the team and appreciative of the ongoing support from our current investors.
With the help of this finance, we will be able to expand our consumer base throughout India and grow more quickly.”
Ravi Adusumalli, the managing director of Xponentia Capital, expressed optimism about The Souled Shop’s potential for future expansion “In a sizable and expanding market, we think The Souled Store has developed a highly distinctive brand and business model.
In order to assist the business reach its full potential, we are eager to collaborate with Aditya and the team “With more people turning to online shopping in the wake of the COVID-19 outbreak, The Souled Store’s most recent fundraising round coincides with a rise in e-commerce activity in India.
The platform has gained rapid growth in recent years, and with this fresh funding, it appears that it will further solidify its position as a market leader in India.