Bacca Bucci has raised INR 21.87 Cr (around $2.5 Mn) in its maiden funding round
The round saw participation from family members of industrialist and founder of healthcare company Famy Care, JP Taparia
Founded in 2012, Bacca Bucci is one of India’s fastest growing D2C footwear brands; despite being bootstrapped, it clocked a revenue of INR 66 Cr in FY24 with daily sales volume exceeding 4K
Gen-Z focused fast fashion footwear brand Bacca Bucci has raised INR 21.87 Cr (around $2.5 Mn) in its maiden funding round from family members of industrialist and founder of healthcare company Famy Care, JP Taparia.
The startup’s board passed a resolution last month to raise the sum by issuing 20,0240 Series A compulsorily convertible preference shares (Series A CCPS), its regulatory filing accessed from the Registrar of Companies shows.
Ashutosh Taparia, founder and managing director of Ananata Capital, and Sanjeev Taparia, managing director of Famy Care, infused INR 8.2 Cr each in Bacca Bucci. The remaining capital came from JP Taparia.
Anuj Nevatia, cofounder and director of Bacca Bucci, did not immediately respond to Inc42’s queries for comment.
Founded in 2012 by Natwar Agrawal and Nevatia, Bacca Bucci is one of India’s fastest growing D2C footwear brands. It sells casual, formal and athleisure shoes and manufactures most of its stock online.
The Delhi NCR-based D2C startup leverages AI in its backend processes for shoe manufacturing. Beyond footwear, the platform also offers a range of complementary products, including belts, wallets, and toiletry bags.
While Bacca Bucci initially sold its merchandise through third party ecommerce websites, it launched its own website in 2019.
Speaking to Inc42 last year, Natwar said that Bacca Bucci generates 90% of its sales from online channels, of which 60% comes from e-commerce platforms like Amazon, Myntra, and Flipkart.
Bacca Bucci earns half of its revenue by selling sneakers, followed by athleisure footwear at 30% and boots at 15%.
The homegrown footwear brand clocked a revenue of INR 60 in the fiscal year 2023-24 (FY24).
It is pertinent to note that Bacca Bucci appeared on Shark Tank India 3 last year but failed to hook the investors. While the founders sought INR 2.5 Cr for 1% equity, they were turned down by the sharks due to concerns over scalability.
However, the rejection turned out to be a turning point for the Delhi NCR-based D2C footwear startup.
Following the episode, Bacca Bucci witnessed a 50X increase in website traffic as viewers, intrigued by the brand’s story, flocked to check out their products online.
To meet the growing demand after Shark Tank, Bacca Bucci opened a 25,000 sq. ft. warehouse in East Delhi, with additional fulfilment centres spread across India. This has allowed the startup to cut delivery times and ensure smoother logistics, even as their daily sales hit 4,000 units.
Bacca Bucci shoes are priced in the range of INR 1,500 and INR 2,500. With its pricing strategy, the homegrown Indian footwear brand has positioned itself as an affordable alternative to giants like Nike, Adidas, and Puma.
Recently, Bacca Bucci entered the Dubai market, eyeing international expansion as the next frontier for growth.
Bacca Bucci’s maiden fundraise comes at a time when D2C brands are disrupting India’s consumer market and grabbing investors’ attention. Earlier this week, Inc42 reported that D2C electronics brand Nuuk raised INR 40 Cr ($4.6 Mn) in its Series A funding round led by Temasek-backed Vertex Ventures.
D2C menswear brand XYXX is also looking to raise INR 29.8 Cr (about $3.4 Mn) in a round led by Niveshaay Sambhav Fund.
At the heart of this push is the growing Indian D2C market, which is projected to become a $300 Bn opportunity by 2030.
