Sneaker centric e-commerce platform Culture Circle has raised $2 million in funding in a round led by Info Edge Ventures. Angel investors also participated in the same.
This capital would be super useful for the startup to scale its operations globally, enhance technology and solidify its position as a rising e-commerce player.
Culture Circle’s Expanding Footprint
Culture Circle operates a luxury e-commerce platform which boasts more than 3,500 sellers and 35 lakh listings. Apart from sneakers it also deals in streetwear and luxury fashion items like bags, blazers, backpacks, cardholders, among others.
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Major brands that the platform deals in are Nike, Yeezy, Dior, Supreme, Common Projects, and Louis Vuitton. Based in Delhi NCR, the company recently expanded its operations in foreign jurisdictions including Qatar, Oman, the UAE, Singapore, the UK, and Thailand.
Founder Devansh Jain Naval told Inc42: “When we launched the platform in January this year, our goal was to be the best in India for sneakers, streetwear, and high luxury. We believe we achieved that. Now, our benchmark is to be the best globally – offering the largest collection, best prices, and guaranteed authenticity. We’re competing with global players like StockX and GOAT, and honestly, our user experience is arguably better (than them)”
The Expanding Business of Culture Circle
Currently, sneakers and footwear make up the bulk of the startup’s revenue, contributing 60%. Apparel follows at 30%, and accessories round out the remaining 10%. The startup operates on an inventory-free model, earning commissions of 9% to 30% on every sale made through its platform.
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Nawal shared that Culture Circle generated Rs 2.2 crore in revenue during its first three months of operation in early 2024. The startup is now aiming to achieve a revenue of Rs 50 crore for the entire fiscal year 2025.
