India, December 2024 – Culture Circle, India’s premier marketplace for sneakers, streetwear, and luxury fashion, has raised $2 million in a seed funding round led by Info Edge Ventures, with participation from angel investors. This funding will propel the platform’s growth and support its expansion into global markets.
Known for offering the largest selection of verified, limited-edition products at competitive prices, Culture Circle has quickly become a favorite among Gen Z luxury fashion enthusiasts in India.
Backing from Info Edge Ventures
Kitty Agarwal, Partner at Info Edge Ventures, praised the company’s potential, saying:
“It is rare to find founders with such strong founder-market fit. Devansh and Ackshay’s passion for sneakers and luxury fashion has earned them the trust of 175K+ social media followers, excellent unit economics, and a loyal customer base. Culture Circle is poised to become a leading global luxury marketplace, and we are excited to support them on this journey.”
A Fast-Growing Marketplace
Founded by Devansh Jain Nawal, an IIM Ahmedabad alumnus and ex-Goldman Sachs professional, and Ackshay Jain, a former Google executive, Culture Circle has rapidly emerged as the go-to platform for sneakerheads and streetwear lovers. Key achievements include:
- Over 1 million monthly users on the platform.
- A network of 4,000+ KYC-verified sellers offering exclusive products.
- Ranking among the top 50 shopping apps on the App Store, alongside global giants like Nike.
Unique Offerings and Proprietary Technology
The platform’s SourceX technology allows users to compare prices, access exclusive deals, and purchase authenticated products from top brands like Nike, Adidas, Jordans, Yeezy, Supreme, Balenciaga, and Dior. This innovative approach ensures buyers receive genuine products at competitive prices, further cementing Culture Circle’s position as a trusted marketplace.
A Vision for Accessible Luxury
Devansh Jain Nawal, Founder and CEO, highlighted the company’s mission and vision:
“Culture Circle was built to make luxury streetwear and authentic sneakers accessible, authentic, and affordable for Indian consumers. This funding enables us to enhance our technology, improve our platform, and deliver an exceptional experience to our growing community of sneakerheads and fashion enthusiasts.”
The Road Ahead
With this fresh round of funding, Culture Circle plans to:
- Strengthen its technology and platform capabilities.
- Expand its global footprint while maintaining its position as India’s top app for luxury and hype products.
- Continue building an authentic connection with its community of fashion lovers, as evidenced by its organic growth on Instagram.
As Culture Circle accelerates its growth trajectory, it’s set to redefine luxury shopping for India’s younger demographic and establish a global presence in the luxury fashion ecosystem.
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