Culture Circle Raises $2 Mn In Seed Funding

Culture Circle, India's marketplace for sneakers, streetwear, and luxury fashion, has raised USD 2 million in a seed funding round led by Info Edge Ventures. With additional support from angel investors, the funding will help Culture Circle accelerate its growth and expand its global reach. Known for offering the largest selection of verified limited-edition products at the lowest guaranteed prices in India, the platform has quickly gained traction among Gen Z luxury fashion enthusiasts.

Kitty Agarwal, Partner at Info Edge Ventures, expressed her enthusiasm for the company’s potential, saying, “It is rare to find founders with such a strong founder-market fit. Devansh and Ackshay’s passion for sneakers and luxury fashion has enabled them to earn the trust of their 175K+ social media followers in a short time, with excellent unit economics and loyal customers. We believe Culture Circle is poised to become a leading luxury marketplace with a global footprint, and we are thrilled to support them on this exciting journey.”

Founded by Devansh Jain Nawal, an IIM Ahmedabad graduate and ex-Goldman Sachs professional, alongside Ackshay Jain, a former Google executive, Culture Circle has established itself as the go-to app for sneakerheads and streetwear lovers in India. Since its launch, the platform has amassed over 1 million monthly users and a network of more than 4,000 KYC-verified sellers, making it one of the fastest-growing players in the space.

Culture Circle claimed that its mobile app ranks among the top 50 shopping apps on the App Store, standing shoulder-to-shoulder with global brands like Nike. Through its proprietary SourceX platform, users can compare prices, access exclusive deals, and purchase authenticated sneakers and luxury items from globally renowned brands such as Nike, Adidas, Jordans, Yeezy, Supreme, Balenciaga, and Dior, all at competitive prices.

Devansh Jain Nawal, Founder and CEO of Culture Circle, shared his excitement about the funding: “Culture Circle was built with a mission to make luxury streetwear and authentic sneakers in India accessible, authentic, and affordable. This funding allows us to double down on our technology, improve our platform, and continue delivering an exceptional experience to our growing community of sneakerheads and fashion lovers. The organic growth we’ve seen on Instagram is a testament to the authentic connection we’ve built with our community.”

With the latest funding, Culture Circle is set to continue its rapid growth, solidify its position as India’s number-one hype and luxury app, and take significant strides toward expanding its global presence.