D2C Lifestyle Brand Salty Raises INR 30 Cr To Expand Product Portfolio

The funding round was led by MG Investment, with participation from Anicut Capital, All In Capital and JK Group, and a host of new angel investors

Salty plans to deploy the funds to deepen its presence in categories like watches, sunglasses, scarves, belts and bag charms

The startup, which featured in the January 2024 edition of Inc42’s flagship ‘30 Startups to Watch’, previously raised INR 5.4 Cr in its seed round

D2C lifestyle brand Salty has raised INR 30.1 Cr (about $3.3 Mn) in a funding round led by MG Investment, with participation from existing backers Anicut Capital, All In Capital and JK Group, and a host of new angel investors.

Salty plans to deploy the funds to deepen its presence in categories like watches, sunglasses, scarves, belts and bag charms. It also plans to enter the bags category with the launch of ‘Salty Bags’.

A portion of the capital will go into strengthening its core team, widening its reach across ecommerce and quick commerce channels and setting up a flagship store, the startup said in a statement.

Founded in 2022 by Sonal Goel, Twisha Gupta and Canishka Garg, Salty sells jewellery, accessories, and other lifestyle items. It boasts a collection of over 2,000 designs across categories like sunglasses, hats, bag accessories, belts and more.

The brand claims to utilise superior alloys and stainless steel, ensuring durability without compromising affordability, and minimising the risk of allergies. The brand caters to both men and women.

Salty claimed it shipped its products to more than 18,000 pincodes in the past year.

The startup, which featured in the January 2024 edition of Inc42’s flagship ‘30 Startups to Watch’, previously raised INR 5.4 Cr in its seed round led by All in Capital and Anicut Capital.

The development comes at a time when a number of new-age D2C brands are designing and selling niche lifestyle products to cater to the needs of Indian consumers. With rising disposable incomes, many D2C brands have established themselves in the market with their unique offerings. These startups are also getting backing from investors who are looking to capitalise on this opportunity.

For instance, startups such as NEWME, BLUE and Slikk, operating in the fast fashion and lifestyle segment, secured funding in the past few months.

At the heart of this is the rapidly growing Indian D2C segment, which is projected to become a $300 Bn market opportunity by 2030 on the back of continued innovation and the emergence of new players across categories. Within this, the Indian lifestyle market comprising fashion and accessories is projected to hit $210 Bn by 2028, growing at a CAGR of about 12%.