Funding
The Souled Store raises Rs 75 crore led by Elevation
By Startup Enthusiast ·
- Date
- Company
- The Souled Store
- What it does
- Elevation Capital
- Kind
- Funding
- Amount
- Rs 75 crore
- Stage
- Series B
- Based in
- Mumbai
- Founded
- 2013
What they do
Mumbai pop-culture apparel brand The Souled Store raised Rs 75 crore, just over $10 million, in a Series B led by Elevation Capital
What happened
Angels included Delhivery’s Sahil Barua, Zalora’s Gunjan Soni, Mosaic Wellness’s Revant Bhate and Livspace’s Ramakant Sharma
Why it matters
The money was for more licensed and casual-wear products, its own manufacturing, hiring and more physical stores
The details
- The Souled Store raised Rs 75 crore in Series B.
- Elevation Capital led.
- Many startup founders joined as angels.
- It had been bootstrapped for its first five years.
- Funds for products, manufacturing, hiring and offline stores.
The bigger picture
- It was its first large institutional round.
- It paid for the move from online-only to stores.
- It set up faster growth over the next three years.
About the business
- The Souled Store makes and sells pop-culture clothing and merchandise under licences such as Marvel, Naruto and One Piece.
- Most sales come through its own website and app, with a growing chain of stores across India.
- It holds over 200 licences and also sells casual wear, footwear and accessories.
Investors
Founders
- Vedang Patel, Co-founder and CEO
- Rohin Samtaney, Co-founder
- Harsh Lal, Co-founder
- Aditya Sharma, Co-founder
Other articles talking about it
More on The Souled Store
- The Souled Store eyes deal at triple valuation29 September 2026 · Stake sale · ₹400–500 Cr
- The Souled Store turns profitable, eyes expansion18 April 2026 · Milestone
- Actor Sara Ali Khan invests in The Souled Store3 April 2026 · Funding
- The Souled Store nears ₹500 crore in revenue29 December 2025 · Results
- The Souled Store buys rival brand Redwolf29 April 2025 · Acquisition
- The Souled Store plans up to Rs 2,000 crore IPO24 February 2025 · IPO · up to Rs 2,000 crore
- The Souled Store turns profitable as FY24 revenue jumps 55%20 February 2025 · Results · Rs 360 crore revenue
- The Souled Store plans Middle East entry in 202513 January 2025 · Launch