Spark Capital is pleased to announce the successful closure of an equity funding round in Wildcraft India Private Limited (“Wildcraft” or the “Company”) from FidelisWorld (“Fidelis”).
Spark Capital acted as the exclusive financial advisor to Wildcraft for the transaction.
With this deal, Spark continues its long term relationship with Wildcraft that began in 2013. Since then, Spark has advised Wildcraft on multiple rounds of private equity fund raises including the Series A round from Sequoia Capital and more recently, a round from Flipkart Limited.
Based out of Bangalore, Wildcraft is India’s largest outdoor brand offering a wide range of performance driven products across gear, clothing and footwear that encompass the entire head-to-toe outfitter range. The Company’s product portfolio consists of functionally rich and aesthetic products including jackets, backpacks, daypacks, rucksacks, tents, travel accessories and shoes for a variety of outdoor pursuits. Sequoia Capital and Flipkart are existing investors in the Company.
The Company will use the proceeds of the fund raise to further enhance its distribution platform and to build brand salience.
“We are thrilled to have FidelisWorld partner with us, in our exciting journey. Their financial and operational support will help accelerate Wildcraft’s growth plans,” said Siddharth Sood & Gaurav Dublish, Co-founders, Wildcraft.
“Wildcraft is a young and fast-growing outdoor & adventure-focused gear, apparel, and footwear brand that addresses the strong consumption story for outdoor products. Wildcraft’s products solve for consumer needs owing to the region’s unique conditions around weather, terrain and distances. We are confident that Wildcraft has what it takes to replicate its formidable domestic position in this space globally. We are excited to be a part of this growth story and look forward to working with the Wildcraft team,” said Rajeev Kalambi, Principal at FidelisWorld, who has joined Wildcraft’s Board as Director.
“It has been an enriching experience for us to have worked with Wildcraft across 3 successful fund raises. Gaurav and Sid are visionary entrepreneurs who have identified a niche and developed it brilliantly. We are very sure that Wildcraft will be a global brand to beat in the medium term,” said Skanda Jayaraman, Managing Director & Head of IB, Spark Capital.
With this deal, Spark Capital has consummated 20 deals in the Consumer sector reaffirming our credentials in this space with a proven track record of advising high-growth and high-quality consumer businesses. In the last 24 months, Spark Capital has closed 21 transactions aggregating USD 875 Million underscoring our commitment to bring fully integrated and holistic financial solutions dedicated to midmarket corporates across the country.