Mumbai-based direct to consumer premium kids clothing brand Cub McPaws has raised an undisclosed amount of funds from Venture Catalysts in its pre-seed round, as reported by YourStory.
The funds raised will be utilized to expand its product lines, scale its distribution capabilities, boost its cutting-edge technology while looking to expand its customer base. In order to drive growth and accelerate brand building, the startup is also looking to onboard senior talent.
Founded by former Pepperfry colleagues Abhay Bhat and Kinnar Shah in 2018, Cub McPaws offers a one-stop-shop for all premium kids clothing requirements. A first of its kind Augmented Reality-enabled clothing line, Cub McPaws has a unique range of product lines ranging from 100% organic to completely cotton-based clothes.
Cub McPaws has previously raised funds from a host of prominent angel investors including Ambareesh Murty, Founder and CEO, Pepperfry, and Anuj Golecha, Co-Founder of Venture Catalysts, among others.
Apoorv Ranjan Sharma, Founder, Venture Catalysts, said, “At Venture Catalysts, we have always aimed to support high-potential startups that are transforming the Indian market on the back of their innovative product offerings and services. We have also recently focussed our attention to startups emerging within the tech space, considering the immense prospects of the domain,”
Adding further, he said, “Cub McPaws lies at the very intersection of our focus group and we hope this association will help them build the fastest growing AR clothing organisation in India. The market is still untapped, and considering Cub McPaws’s stellar offering, I believe they can be the leaders in this space in a very short span.”
According to a report by Statista, kids apparel market is expected to reach over ₹1.6 trillion by 2028 from ₹730 billion in 2018. The rapidly expanding market provides a unique opportunity for the startup to leverage its innovative technology platform to carve a niche in the space.