Press Release
Uni Seoul Secures ₹5 Crore in Seed Funding to Expand Lifestyle Brand
Bengaluru, India – Uni Seoul, a burgeoning contemporary lifestyle brand, has raised ₹5 crore (approximately $585,000) in a seed funding round led by Sauce VC, a prominent early-stage consumer investor. The funding round also attracted participation from Panthera Peak Ventures and notable individual investors, including Arun Venkatachalam, Sangeet Agrawal, Navin Parwal, and Yogesh Kabra.
The startup plans to utilize the funds to enhance its offline presence, targeting tier I cities such as Bengaluru, Hyderabad, and Chennai with new store openings. Alongside brick-and-mortar expansion, Uni Seoul will invest in the launch of new private labels, augment its direct-to-consumer (D2C) platform, ramp up marketing efforts, and optimize its supply chain.
Founded by Gaurav Karmani and Mohit Khurana, Uni Seoul operates in diverse categories, including home and living, personal care, gifting, and fashion accessories. The brand currently boasts four profitable stores in Pune, Hyderabad, Bengaluru, and Nashik, and manages an expansive catalogue of over 700 stock-keeping units (SKUs). Unique to the brand, around 40% of its inventory is sourced from domestic contract manufacturers, while the rest is imported from South Korea, India, China, and Vietnam.
In October 2023, Uni Seoul launched its online store, now accounting for approximately 27% of overall revenue despite limited marketing. The company aims to triple its growth within the next year through an omnichannel approach.
Mohit Khurana, Co-founder and CEO, expressed enthusiasm for the support from Sauce VC, emphasizing the brand’s mission to deliver joyful, affordable design-driven products. Manu Chandra, Founder & Partner of Sauce VC, noted the brand’s potential in catering to India’s young, aspirational consumers, aligning with trends observed across Asia.
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