Mumbai, Feb 28:
Premium men’s lifestyle brand Damensch has raised USD 16.4 million (around Rs 122.5 crore) in series-B funding led by A91 Partners and existing investors Saama Capital, Matrix Partners and Whiteboard Capital.
The company has a portfolio of over 200 SKUs listed across over 15 categories and made more than 10 million shipments to over 10,000 pin codes.
Damensch, cofounded by Anurag Saboo and Gaurav Pushkar in 2018, said its products are addressing a big white space in the wardrobe of the modern man and has clocked Rs 100 crore in annual revenue run rate in 2021.
The company is targeting faster growth in the coming financial year through meaningful product-market and channel expansion, and the money raised from investors will go into achieving these objectives.
The company’s key products include bamboo vests and deodorising underwear, and it offers 500 days warranty on loungewear and chino short collections.
It is planning to deepen its presence in the innerwear, loungewear, sleepwear and everyday-wear categories this year, the founders said. (PTI)
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