Gro Club, a direct-to-consumer (D2C) kids subscription platform, has successfully raised Rs 4.3 crore in funding, valuing the company at Rs 25 crore. The funding round was led by Ramaiah Evolute, the startup wing of MS Ramaiah Group. Several prominent angel investors, including Chirag Shah of Velvet (Los Angeles), Sanjay Munirathna of Keerthi Group, Isaac Reyes of Ravis (Panama), Deepak Gowda of Ascent Capital, Purushotham R, Amit Nanavati of Juicy Chemistry, Dinesh Talera, Shricharan N J, and Sanjay Sunku of Drink Prime, also participated in the round.
The freshly raised funds will play a pivotal role in expanding Gro Club’s product range and enabling its entry into new Indian cities. Founded by Pruthvi Gowda and Hrishikesh Halekote Shivanna, Gro Club offers a unique bicycle subscription service for growing kids, providing hassle-free ownership for parents with subscription prices ranging from Rs 250 to Rs 500.
Pruthvi Gowda, Co-Founder & CEO of Gro Club, expressed his vision for the company, stating, “Our goal is to offer top-notch products and create community-driven, enriching experiences for parents and children. With the funds raised, we’ll expand our range and reach new Indian cities.”
Unlike regular bicycles with a typical lifespan of two years, Gro Club’s model is designed to keep the bicycles active for approximately ten years, delivering five times the value. Currently available in Bengaluru, Gro Club provides doorstep service throughout the entire subscription period. In just 16 months, the startup has gained significant traction in the market, boasting over 4,500 subscribers and a monthly subscription revenue rate of Rs 23 lakh. In addition to its bicycle subscription service, Gro Club focuses on fostering the holistic development of children by teaching them responsible consumption and offering a wide variety of digital and outdoor experiences.
Samartha Raghava, Chief Strategist at Ramaiah Evolute, commented on the development, saying, “Gro Club is on a mission to disrupt the kids’ space through subscription plans tailor-made for the access economy, meaning parents never need to buy certain products for their kids again. The fact that parents can now subscribe to a product for the period it is useful to their kids itself is a game-changer.”
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