Culture Circle, the fast-growing luxury fashion app co-founded by Devansh Jain Nawal and Ackshay Jain, has secured fresh strategic backing from OYO’s Ritesh Agarwal—just months after the brand made waves on Shark Tank India.
What’s notable? The duo walked away from an ₹8 crore offer on the show and instead shook hands with Ritesh and Snapdeal co-founder Kunal Bahl on a ₹3 crore deal they believed better aligned with their long-term vision. That bet seems to be paying off. The app is now valued north of ₹400 crore and has seen its business multiply fourfold in recent months.
With over 1 million monthly users and a network of 4,000 fully verified sellers, Culture Circle has quietly become one of the most influential names in the luxury streetwear space—regularly featuring among the top 50 shopping apps in India. The platform focuses on offering authenticated drops from names like Nike, Yeezy, Dior, and Louis Vuitton, all verified through a proprietary five-step AI-backed process.
“Culture Circle doesn’t just sell fashion—it understands what the new generation wants,” said Agarwal. “That mix of community, credibility, and tech made this a no-brainer for me.”
The founders aren’t just thinking local, either. With plans to expand globally this year and new flagship stores lined up in Mumbai, Gurugram, and two other cities, Culture Circle is on track to turn its hype into a cross-border brand. Their tech platform SourceX, an in-house AI engine, will also play a key role as they move into new categories.
“This partnership isn’t just about money—it’s about building something meaningful,” said Nawal. “We’re here to reshape how Gen Z connects with fashion, and Ritesh shares that vision.”
