Damensch, a D2C lifestyle brand has raised $16.4mn (INR 122.5 crores) in series B round funding led by A91 Partners, an official statement highlighted.
The statement also highlighted that the existing investors includes Saama Capital, Matrix Partners and Whiteboard Capital also participated in the round.
Anurag Saboo, Co- founder Damensch commented on this “Our products are addressing a big white space in the wardrobe of the modern man. We have clocked 100Cr ARR in 2021 making us the fastest D2C apparel brand to reach this milestone, on the back of our strong consumer proposition”.
Talking about growth plans, he said, “We are targeting 3x growth in the coming financial year through meaningful product-market and channel expansion.”
Currently the portfolio has more than 200 SKUs listed across more than 15 categories and has made more than 10mn shipments to over 10,000 pin codes across the country.
Gaurav Pushkar, Co-founder Damensch speaking on portfolio expansion said, “Innovation is core to Damensch. We started this journey by creating unique products like bamboo vests and deodorizing underwear. 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.”
Damesnch sells to its target audience-men particularly from the 20-45 age group on its website and other e-commerce marketplaces such as Amazon, Myntra and Flipkart.
