Zouk, an innovative direct-to-consumer (D2C) fashion brand, is on the verge of finalizing a significant funding round to propel its growth. The Mumbai-based startup, known for its commitment to cruelty-free practices, has announced the launch of this new funding initiative after a strategic period of over 18 months.
Aavishkaar Capital, recognized for its diverse portfolio including investments in AgroStar, Altum Credo, Ergos, GoDesi, Milk Mantra, and Newtrace, is backing Zouk in this venture.
Zouk is renowned for its unique range of products, including laptops, tote bags, sling purses, and chain wallets, all crafted from 100% vegan leather. The materials are sourced and produced in India, and each item is meticulously handcrafted by skilled artisans from within the company.
In March 2023, Zouk successfully raised $3 million in a funding round led by Stellaris Venture, with participation from notable angel investors such as Manoj Meena, founder of Atomberg, and Sugar Cosmetics co-founders Vineeta Singh and Kaushik Mukherjee. To date, the brand has garnered over $4.5 million in funding, including a $1.5 million pre-Series A round led by Stellaris and undisclosed seed funding led by Titan Capital in July and January 2021, respectively.
With this upcoming round, Zouk is projected to reach a valuation of around $50 million (approximately Rs 400 crore). During its last financing round, the company was valued at about $7 million, according to data insights from TheKredible, a startup intelligence platform.
Attempts to reach Zouk and Aavishkaar Capital for further comments went unanswered.