GoodGudi, Fast Lifestyle Retail Chain, Secures Seed Funding for Expansion

• ByStartupStory     |    September 5, 2023

GoodGudi, a fast lifestyle retail chain specializing in household and consumer goods, has successfully raised seed funding from a group of investors. AC Ventures led the investment round, with participation from April Ventures, Capinity Partners, high-net-worth individuals (HNIs), and notable angels including Kunal Shah and Aprameya Radhakrishna.

Although the exact amount of funding was not disclosed by the company, sources suggest that the round’s size falls between $800,000 to $1 million.

GoodGudi, co-founded by Anurag Gupta, Sagar Yarnalkar, and Chandan Kumar, plans to establish more than 40 retail stores within the next 24 months. The brand positioning of GoodGudi is similar to that of the Japanese retail giant Miniso.

The company’s product offerings will primarily focus on utility items and span various categories such as home goods, travel accessories, gifts, fashion accessories, personal care products, kitchenware, stationery, kids’ items, toys, and more.

Anurag Gupta and Sagar Yarnalkar, the founders of e-grocery startup Dailyninja, were acquired by Tata-owned grocery unicorn BigBasket in early 2020.

“We want to test the Bengaluru market first and will open 7-8 stores in the next 12 months. Our differentiation lies in the frequent introduction of new designs and product ranges with something fresh and exciting hitting the shelves every 30 days. This approach aims to create an engaging and dynamic shopping experience for customers,” said Chandan Kumar in an interaction with Sources.

Fast lifestyle retail has proven successful globally, with major players like Miniso, Daiso, Mumuso, and Ximivogue operating profitable businesses. Miniso, which has entered the Indian market, currently has over 250 stores in the country. With GoodGudi, Gupta and Yarnalkar are venturing into the offline retail space, drawing on their experience from building Dailyninja. Their journey as second-term entrepreneurs will be closely watched

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