The company has recently raised Rs 11.75 crore (USD 1.5 million) in pre-series A funding led by Stellaris Venture Partners, along with participation by the founders of Wow Skin Science
Homegrown vegan lifestyle brand Zouk on Thursday said it aims to hit an annualized revenue of Rs 100 crore by FY23 and expand to overseas markets like the US, Canada, Europe, and the Middle East. The company has recently raised Rs 11.75 crore (USD 1.5 million) in pre-series A funding led by Stellaris Venture Partners, along with participation by the founders of Wow Skin Science.
Existing investors Titan Capital also participated in the round. The funds will aid Zouk’s expansion in India and new global markets, strengthening its supply chain and distribution channels, and extending its product line. Zouk raised its seed capital earlier this year from Titan Capital, founders of Beardo and Mamaearth.
‘The brand aims to scale to Rs 100 crore by FY23 in annualized revenue… We then want to chart the path to hitting Rs 1,000 crore in the next few years,” Zouk co-founder and CEO Disha Singh said.The company has garnered over 50,000 customers with a 4x growth in the last seven months and now aims to double its consumer base every six months for the next five years.
The pre-series A round will be utilized by the company to expand to the US, Canada, Europe, and the Middle East in addition to expanding its team in India.
PTI
Source: Business World
