Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Mumbai-based character merchandising startup, Superhero Brands, has raised about $458K (INR 3.6 Cr.) in its Pre-Series A round of funding from early-stage venture capital firm DSG Consumer Partners.
Besides, Lead Angels, UK-based The Character Group and number of angel investors also participated in this round.
The startup will use the funds to expand its product portfolio, build its distribution network, and expand its presence through online and offline channels.
Founded in 2013 by Jaineel Aga, Sumit Shah and Karan Rai, Superhero Brands, is a licensed merchandising portal dedicated to official superhero, comic and TV show characters from Marvel, Warner Bros, Fox, Universal and Cartoon Network. It offers the widest product collection across apparel, mobile accessories, laptop skins, electronics and collectibles.
The company offers a range of 50+ characters across 50+ categories curated on its platform.
Speaking on the development, Deepak Shahdadpuri, DSG Consumer Partners MD said, “We have been impressed with the team’s focus, financial maturity and vision in building a sustainable and long lasting business in this fast-growing character merchandising space. The company has demonstrated an ability to work with leading brand owners and over time will develop and sell merchandise across categories.”
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.