8, May 2024
Startup Select Brands Secures INR 6.5 Cr Pre-Series A Funding, Aims to Redefine D2C Landscape

Startup Select Brands Secures INR 6.5 Cr Pre-Series A Funding, Aims to Redefine D2C Landscape

India, 08 May 2024 — JITO Incubation Centre (JIC), part of JITO Incubation and Innovation Foundation (JIIF), incubated Select Brands, has secured INR 6.5 crore in its Pre-Series A funding round. The funding round was led by Agra Gwalior Pathways and Airen Holdings. Other marquee investors include We Founder Circle, Prataap Snacks, Apricot Foods, Workie, and IVY League Ventures.

Select Brands, founded by brothers Agam Choudhary and Saksham Jain in 2022, epitomizes the spirit of innovation and entrepreneurial excellence. With a vision to revolutionize the market, it is well-positioned to utilize the funding to not only expand its current operations but also to explore new territories and broaden its reach through category expansion.

Select Brands possesses the capability to leverage emerging opportunities and achieve its goal of becoming a prominent player in the D2C market. With the backing of this funding, the company will be able to launch new brands under the Select Brand portfolio.

Vikash Kawar, Vice-Chairman of JITO Incubation Centre, said, “We feel proud to witness the remarkable progress of Select Brands. This funding is a testament to their dedication and ingenuity in the competitive business landscape. It showcases the potential of startups incubated under JIIF’s guidance. India is definitely making a mark with the tremendous D2C disruption. And one of the biggest factors for the growth of D2C brands in India is rapid digitization. Also because of the nation’s high population, India will always be a D2C brand and we are contributing our part by supporting D2C startups with differential offerings and efficient user experience.”

Backing more than 32+ homegrown startups, the primary concept of JITO Incubation Centre is to invest in people and their ideas. JIC is dedicated to transforming promising early-stage startup ideas into viable business concepts with a local, national, and global effect.

Select Brands began its entrepreneurial journey with an aim for customer satisfaction and this is illustrated by its flagship product, Kyari, a D2C brand that specializes in home-grown plants. Despite initial challenges, Kyari has received widespread acclaim, with sales of INR 4 crores in its first fiscal year (FY-23) and currently records monthly sales of approximately INR 1.5 crores.

Agam Choudhary, Co-founder, Select Brands, said, “We are elated by the infusion of funding we’ve received. This funding will play a crucial role in driving forward our expansion plans, empowering us to introduce new brands under the Select Brand umbrella. With the support of our investors and mentors, we are confident in our ability to achieve our growth targets.”

JITO Incubation Centre is a structured program that consolidates essential resources for startups, including vital components such as mentorship, a global network, technology, peripheral services (such as legal and financial assistance), and business connections, all under one roof.

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