DaMensch raises Rs 122.5 crore in Series B funding

DaMensch, a premium men’s lifestyle brand, has raised $16.4 million (Rs 122.5 crore) in series B funding, led by A91 Partners. Existing investors Saama Capital, Matrix Partners and Whiteboard Capital also participated in the round.

As per the brand, the funds will be used 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. Talking about growth plans, he added, “We are targeting 3x growth in the coming financial year through meaningful product-market and channel expansion.”

Gaurav Pushkar, Co-founder DaMensch said, “Innovation is core to DaMensch. We started this journey by creating unique products like bamboo vests and deodorising 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 every day-wear categories.”

“DaMensch has become the go-to brand for affluent men who are looking for new age, digital-first clothing brands that can combine comfort and style and gives them a chance to upgrade their products and brands. With a meaningful (40%) 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,” said Prasun Agarwal, A91 Partners on choosing to partner with the brand.

“We are excited to continue partnering with DaMensch on their phenomenal growth journey. The brand’s combination of product quality and customer experience makes it one of the most exciting D2C plays in India. Gaurav and Anurag have put together a top-quality team and are poised to scale significantly over the next few years,” said Ash Lilani, Managing Partner, Saama Capital.

“As the first investors in the Company, we have been highly impressed by the strong product innovation and customer-centric business DNA. We are excited to partner with A91 as we continue on this journey of efficient and unit economics driven growth,” said Anshu Prasher, General Partner, Whiteboard Capital. 

“DaMensch has achieved tremendous growth over the last 12 months and is poised to be the leading mass-premium brand for the men’s apparel category in India. Anurag and Gaurav’s customer-obsessed approach and the superior quality of the product truly sets them apart, and we are thrilled to be doubling down on our investment! We welcome A91 Partners to the partnership and look forward to the next phase of growth,” said Sudipto Sannigrahi, Principal, Matrix India.

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