Bonkers Corner Secures Rs 95 Crore in Series A Funding
Bonkers Corner, a prominent omnichannel clothing brand, has successfully raised Rs 95 crore, which is approximately $10.5 million, through its Series A funding round. This initiative was spearheaded by the India SME Investment Fund, with additional support from Radhakrishna Ramnarain Pvt Ltd, Namita Thapar, along with more than 20 other investors.
Funding Details
The board of Bad Brains Streetstyle Pvt Ltd, Bonkers Corner’s parent company, has issued 3,12,644 Series A CCPS at an individual price of Rs 3,038 to gather the mentioned funds, as noted in their filing with the Registrar of Companies (RoC). The private equity firm India SME Investments led this funding round, contributing Rs 64.5 crore, which is about $7.15 million. Radhakrishna Ramnarain Pvt Ltd followed with an investment of Rs 17.8 crore. Additionally, Rajesh Raheja contributed Rs 3 crore.
Investor Participation
Namita Thapar, a judge on Shark Tank India, also took part, contributing Rs 50 lakh through Thapar Vision LLP, thereby fulfilling her previously announced investment commitment from the show, amounting to Rs 1.5 crore. The remaining investment was provided by over 20 other investors, including several angel investors.
Company Valuation and Background
This marks the inaugural significant funding round for Bonkers Corner, with funds already deposited in the company’s bank account. Startup Superb estimates the current valuation of the company at Rs 430 crore, which is nearly $48 million, based on a post-money assessment. Founded in 2020 by Shubham Gupta, Bonkers Corner focuses on streetwear fashion and offers apparel for both men and women. Their product line features oversized graphic T-shirts, gym wear, hoodies, sweatshirts, and co-ord sets.
After this funding allocation, India SME Investments now holds a 15% stake in the company, while Radhakrishna Ramnarain Pvt Ltd controls 4.14%. Namita Thapar maintains a modest 0.37% stake, and founder Sanjay Gupta, alongside his wife Reena Gupta, continues to hold 70.62% ownership in Bonkers Corner.
Financial Performance
For the fiscal year ending in March 2025, the Mumbai-based company recorded a 23% year-on-year increase in operating revenue, reaching Rs 123 crore. Additionally, they reported a profit of Rs 4.3 crore during the last fiscal year.
Market Competition
Bonkers Corner operates within a fiercely competitive D2C fashion landscape, where it competes with brands like Snitch, which raised $40 million last year, Rare Rabbit, securing $6 million, and MyDesignation with a recent funding of Rs 40 crore. Other key competitors include Bewakoof and The Souled Store, alongside numerous other direct-to-consumer brands.