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August 19, 2013

Deal Alert: Sequoia, Norwest to invest $10-M in outdoor-gear maker Wildcraft: report

Sequoia Capital and Norwest Venture Partners are backing Bangalore-based outdoor-gear maker Wildcraft with a $10-million investment. The funds are valuing the backpack and rucksack brand at nearly $50 million. The fund raising is part of the strategy to transformWildcraft from mostly a technical outdoor gear to a broader lifestyle and leisure business.

Wildcraft's sales are nearing Rs 100 crore up from just Rs.1 crore in FY07. The company operates over 60 exclusive stores, over 200 shop-in-shop formats and is present across 1,000 multi-brand channels across 50 cities.

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