Indian Walker raises pre-seed funding at Rs 20 Cr valuation
Carry-first streetwear brand Indian Walker has raised an undisclosed amount in a pre-seed funding round from Palette Wealth Management (PWM) at a post-money valuation of Rs 20 crore.
This is Indian Walker's first institutional funding round. The brand is part of CoFounder Circle (CFC) Venture Studio, a consumer venture studio founded by entrepreneur Darpan Sanghvi.
Founded last year by Md. Sakib, the Delhi-based company makes backpacks and other carry products designed for daily commuting, priced in the mid-premium segment. Core backpacks are priced between Rs 2,000 and Rs 4,000. Its Level Up collection, led by the Stride backpack, has sold more than 10,000 units since launch.
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The company currently sells through its D2C website and plans to launch on Amazon, Flipkart and Myntra in the next quarter. It also plans to expand to quick commerce and other marketplace channels.
The fresh capital will be used to fund inventory, expand core categories and add new SKUs to the Level Up collection. Indian Walker is targeting Rs 100 crore in ARR over the next 24 months and aims to build a customer base of more than 1 lakh.
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