India, May 29 -- D2C fashion brand Snitch is raising INR 278.93 Cr (around $33 Mn) in a fresh funding round to be led by 360 Asset Management Fund, with participation from existing investors IvyCap Ventures and SWC Global.

According to the startup's MCA filing assessed by Inc42, the board of Snitch has passed a special resolution on May 27 to allot 1,755 Series B compulsory convertible preference shares (CCPS) at a face value of INR 10 and premium of INR 15.89 Lakh on a preferential allotment basis.

While 360 Asset Management Fund will be investing INR 220.12 Cr, IvyCap Ventures and SWC Global will infuse INR 29.40 Cr each.

Entrackr reported the development first.

The development comes at the heart of Bengaluru-based Snitch's plans to...