Wildcraft a Bangalore based outdoor gear manufacturer is planning to raise about Rs 100 crore from Sequoia Capital. It will be the second round of funding in the company. In 2013 Wildcraft raised about Rs 70 crore from Sequoia Capital valuing about $52 million.
It was founded in 1992 by Gaurav Dublish, Siddharth Sood and Dinesh KS. It helps the users to create reliable and quality of outdoor gear and equipment in India.
Wildcraft currently has over 100 exclusive stores in India and more shops which retail its products. Around 25% of the turnover comes from its franchised and owned outlets. The remaining 75% comes from distribution, online portal, institutional sales and large format stores.
In 2011, it showed revenue of Rs 50 crore and by the end of 2016 it is planning to target the growth of Rs 250 crores. They initially began their operations in Hyderabad, Bangalore, Pune and Chennai. Now they expanded their operations in other cities as well.
According to the sources
“The second round of funding is done at a strategic time. Wildcraft is looking to hit the primary market with an IPO (Initial Public Offering) in 2017. It has been decided that an IPO would be rolled out, but it is too early right now. Plans of how much could be raised and how much equity needs to be dissolved would be decided at a later stage.”