DaMENSCH, a Bengaluru-based premium men’s lifestyle brand, has raised $16.4 million (Rs 122.5 crore) in Series B funding led by A91 Partners. Existing investors Matrix Partners India, Saama Capital and Whiteboard Capital also participated in the round, according to an official release.
The D2C brand will use the funding to make investments in technology, and to strengthen and diversify the product portfolio.
“Our products are addressing a big white space in the wardrobe of the modern man. We have clocked Rs 100 crore ARR in 2021 making us the fastest D2C apparel brand to reach this milestone, on the back of our strong consumer proposition,” said Anurag Saboo, Co- founder DaMENSCH, in the release.
“We are targeting 3x growth in the coming financial year through meaningful product-market and channel expansion,” Anurag added.
“With a meaningful (40 percent) set of consumers shopping multiple (2-3) times a year, DaMENSCH has managed to grow on the back of loyalty from existing customers and continuous addition of new customer segments,” added Prasun Agarwal, A91 Partners on choosing to partner with the brand.
A91 Partners is an investment firm investing across consumer, technology, financial services and healthcare sectors in India. Its current investments include Digit General Insurance, Aye Finance, Sugar Cosmetics, Atomberg Technologies, Hector Beverages, PushpMasala, Exotel, Happilo, Inshorts, La Renon, Soothe Healthcare, Alphavector and GIVA.
Started in 2018, DaMENSCH’s portfolio currently has more than 200 SKUs listed across more than 15 categories, and has made more than 10 million shipments to over 10,000 pin codes across the country.
According to Gaurav Pushkar, Co-founder, DaMENSCH, “From the 500 day warranty on our Constant Loungewear collection to Mozzarella stretch chino shorts, we continue to leverage fabric engineering to redefine menswear. In 2022, we will deepen our presence in the innerwear, loungewear, sleepwear, and everyday-wear categories.”
In November 2020, the company announced raising a Series A funding of about Rs 50 crore from Matrix Partners India, Saama Capital, Whiteboard Venture Partners and Alteria Capital.
Edited by Anju Narayanan