Faad Network, AngelBay, Others Invest Rs 17 Cr In SuperCluster Pi

Advertisements

SuperCluster Pi, a House of Brands player, has raised $2 million (approximately Rs 17 crore) in seed funding led by Bobby Balachandran of Exterro Inc, with Inflection Point Ventures, Hyderabad Angels, Faad Network, and AngelBay.

Social media influencers such as Bhuvan Bam, Ranveer Allahbadia (Beer Biceps), Praful Billore (MBA Chaiwala), and Arvind Arora (A2) also took part in the round. The startup intends to use 70 per cent of the funds raised for acquisitions, growth, hiring, and marketing. It also plans to acquire 6-8 direct-to-consumer brands over the next 12 months, with a run-rate of $20 million in annualised gross merchandise value.

Vishnu Prasath Devarajan founded the Coimbatore-based startup in 2021. In the last six months, the startup has acquired three direct-to-consumer brands, reaching over 30,000 consumers each month.

Startups such as UpScalio, Mensa Brands, and GlobalBees have recently made investments in the House of Brands D2C space.

The unicorn backed by Alpha Wave Global Mensa Brands made several significant acquisitions, the most recent being the Noida-based consumer electronics brand Pebble in July 2022. Upscalio announced an undisclosed investment in four auto accessory brands—Autofurnish, Destorm, Urban Lifestylers, and MotoTrance—in December 2021.



Categories: Other News

Leave a Reply Cancel reply

%%footer%%