New Delhi-based direct-to-consumer (D2C) brand D'chica raised Rs 1.62 crore in a funding round led by revenue-based financier Velocity. 

According to a company statement, it will utilise the newly-generated funds in marketing. Additionally, the company will hire skilled staff to bolster its team. 

In the financial year ( FY) 2022, the company earned Rs 6.6 crore in revenue. In this FY, it is targeting a 13 crore revenue mark. 

Founded in 2009 by Vani Chugh Kabra and Richa Kapila, D'chica is known for offering underwear, sportswear, lounge and footwear.

The company also uses third-party e-commerce platforms like Amazon, Myntra, Ajio, Firstcry, Jabong and Zivane. It has also built two offline stores in the National Capital Region (NCR) and Uttar Pradesh. 

"Our products have been met with a great response, not just in metropolitan cities, but across tier-two and three towns including Patna, Indore, Vizag, Visakhapatnam, and Shillong as well,” Kapila said while addressing the fundraising. 

Founded by Abhiroop Medhekar, Saurav Swaroop and Khichariya, fintech firm Velocity raised $20 million in a Series A funding round led by Valar Ventures. Last year, the company invested Rs 2 crore in the health and nutrition start-up Suwasthi. 

Despite the fund crunch last year, D2C start-ups were seen to raise a good amount of funds. According to a Tracxn report, D2C brands in India raised $543 million, higher than the previous year.