Culture Circle, a fast-growing homegrown fashion commerce platform catering to India's luxury and streetwear segment, has raised strategic funding from Ritesh Agarwal, Founder and CEO of OYO. The latest round, done at a valuation exceeding Rs 100 crore, marks a major milestone for the startup that aims to become the go-to platform for Gen Z luxury buyers.
This fresh investment comes on the heels of Culture Circle’s appearance on Shark Tank India, where it secured Rs 3 crore in funding from Agarwal and Snapdeal co-founder Kunal Bahl. Interestingly, the founders turned down a higher Rs 8 crore offer on the show to preserve long-term strategic value.
Founded by Devansh Jain Nawal (ex-Goldman Sachs, IIM Ahmedabad) and Ackshay Jain (ex-Google, leads JIIF Gurugram), Culture Circle operates at the intersection of fashion, trust, and tech. The platform has carved a niche by offering authenticated luxury fashion, including limited-edition sneakers and streetwear from top brands like Nike, Yeezy, Dior, and Louis Vuitton (LV).
With over 1 million monthly users and 4,000+ KYC-verified sellers, the app consistently ranks among India's Top 50 shopping platforms. The company operates two flagship offline stores in Delhi and Hyderabad, and has announced plans to open new outlets in Gurugram and Mumbai soon.
Following exponential growth in recent quarters, Culture Circle claims to have surpassed a Rs 400 crore valuation. The platform reported 4x growth in business, backed by strong traction among India's fashion-forward Gen Z audience.
A key pillar of Culture Circle's success is SourceX, its proprietary AI-based authentication engine, which ensures product legitimacy through a 5-step verification process. The newly raised capital will be used to further scale SourceX and expand into new product categories and global markets.
In addition, the startup is fast-tracking plans for international expansion later this year, aligning with its mission to democratise luxury fashion for Indian youth and establish India as a key hub in the global streetwear ecosystem.
“Culture Circle is one of the most exciting youth-first platforms to emerge from India,” said Ritesh Agarwal. “Their focus on trust and experience makes them truly stand out.”
“This round is more than just funding—it’s a partnership built on shared values,” said Devansh Jain Nawal. “We’re building a cultural movement and not just a business.”
Youth-Focused Approach: Built for Gen Z, by Gen Z founders.
Authenticity First: AI-powered SourceX ensures genuine, luxury products.
Hybrid Model: Online marketplace + physical retail stores.
Massive Seller Network: 4,000+ verified sellers.
Flagship Brands: Curated drops from Nike, Yeezy, Dior, and LV.
Culture Circle is redefining luxury fashion access in India with tech-driven trust and global ambitions. As it continues to scale both online and offline, and sets sights on the international market, the startup is one to watch in the fashion-commerce and D2C ecosystem.
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