The Sock Street raises fresh funds at 1 million dollar valuation

New Delhi: The Sock Street, a direct-to-consumer lifestyle brand focused on socks, has secured funding at a 1 million dollar valuation. The amount raised in this latest round remains undisclosed.

Founded by media entrepreneur Shobhit Gaur and currently headed by CEO Udit Mayor, the company says the new funds will be directed towards expansion, product development, and growing its distribution channels across India.

“The Sock Street is not just a seed of a company, but the start of a movement that establishes socks and assumes and disrupts how everyday essentials are perceived,” said Shobhit Gaur, Founder.

According to the company, it has seen increased traction through its digital presence and has noted demand from both domestic and international markets.

CEO Udit Mayor stated that the latest funding will support the brand’s global outreach and product innovation efforts. “The new funds will drive The Sock Street’s global expansion, fuel design innovation, and enhance its omnichannel experience,” he said. “Our ambition is to take this homegrown brand to the world stage. This new inflow of capital means we will be doubling down on product R&D, expanding into global markets, and creating hyper-local immersive retail experiences.”

The company is also looking to build physical infrastructure, with plans to open 500 dark stores across the country.

Saurabh Srivastava, Chief Business Officer, said, “Raising funds at a 1 million dollar valuation is a proud moment for The Sock Street. The funds will help us strengthen our supply chain, expand our footprint into global markets, and accelerate our journey towards introducing more sustainable, performance-driven products.”

Investors Anuj Dhingra and Manu Gulati, Partners at Knit World, also commented on the deal. “We see tremendous potential in The Sock Street’s unique brand proposition and commitment to disrupting the lifestyle essentials space,” they said in a joint statement.