D2C Streetwear Brand Secures Backing from India SME Investment Fund and Namita Thapar
Mumbai-based omnichannel clothing brand Bonkers Corner has raised ₹95 crore (around $10.5 million) in its Series A funding round led by India SME Investment Fund. The round also saw participation from Radhakrishna Ramnarain Pvt Ltd, Namita Thapar, and more than 20 other investors.
According to regulatory filings, the board of Bad Brains Streetstyle Pvt Ltd allotted 3,12,644 Series A compulsorily convertible preference shares at an issue price of ₹3,038 each to raise the funds. This marks the first major institutional funding round for the direct-to-consumer fashion brand.
Investor Participation and Post-Money Valuation
India SME Investment Fund led the round with an investment of ₹64.5 crore, followed by Radhakrishna Ramnarain Pvt Ltd with ₹17.8 crore. Investor Rajesh Raheja contributed ₹3 crore as part of the round.
Namita Thapar invested ₹50 lakh through Thapar Vision LLP, completing the ₹1.5 crore investment commitment she made on Shark Tank India. The remaining capital was contributed by more than 20 angel investors.
Following the allotment, India SME Investment Fund holds a 15% stake in the company, while Radhakrishna Ramnarain owns 4.14%. Namita Thapar holds 0.37%, and founder Shubham Gupta along with Reena Gupta retains a majority 70.62% stake. The company is estimated to be valued at about ₹430 crore (around $48 million) post funding.
Revenue Growth and Competitive D2C Fashion Market
Founded in 2020, Bonkers Corner sells streetwear apparel including oversized graphic T-shirts, hoodies, sweatshirts, gym wear, and co-ord sets for men and women.
The company reported operating revenue of ₹123 crore in FY25, representing 23% year-on-year growth, and posted a profit of ₹4.3 crore during the fiscal year.
Bonkers Corner operates in a competitive D2C fashion market alongside brands such as Snitch, Rare Rabbit, MyDesignation, Bewakoof, and The Souled Store.
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