Luxury fashion platform Culture Circle has raised strategic funding from Ritesh Agarwal, Founder & CEO of OYO, at a valuation of over Rs 100 crore.
The investment follows the brand’s appearance on Shark Tank India earlier this year, where it secured a Rs 3 crore deal with Ritesh and Kunal Bahl. The start-up had turned down a record-breaking deal of Rs 8 crore to focus on long-term growth instead.
“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 is more than funding, it’s a partnership built on shared values,” said Devansh Jain Nawal, Co-founder & CEO. Ackshay Jain, Co-founder & COO, added, “This round will help us scale SourceX – our AI-powered engine, and expand into new categories and global markets.”
About the Platform & What’s Next
The platform was founded by Devansh Jain Nawal (IIM A, ex-Goldman Sachs) and Ackshay Jain (JIIF Gurgaon Convenor, ex-Google). Culture Circle garners over 1 million monthly users and 4,000+ KYC-verified sellers. It consistently ranks among India’s Top 50 shopping apps. The startup is already witnessing a 4x growth in business, currently valuing at over Rs 400 crore.
Culture Circle recently announced plans to go international this year, further accelerating its mission to democratise luxury for Gen Z. The brand’s also on a mission to position India as a key player in the global streetwear and luxury market.
It offers India’s largest collection of authenticated luxury fashion from Nike and Yeezy to Dior and LV, powered by a proprietary 5-step AI-led verification system.
With flagship stores in Delhi and Hyderabad, Culture Circle is expanding its physical footprint with upcoming stores in four additional cities including Gurugram and Mumbai.
The founders, Devansh and Ackshay, have been recognised in Forbes Asia’s 30 under 30 for their innovation and impact in the retail – ecommerce space.
