India-based D2C men’s lifestyle brand, DaMENSCH has raised US$16.4 million funding in its Series B funding round led by A91 Partners along with participation from existing investors Matrix Partners, Saama Capital, Whiteboard Capital, and Alteria Capital.
The company makes loungewear and innerwear for men will be using the fresh funding to invest in technology development, diversify and strengthen the product portfolio.
“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,” said Gaurav Pushkar, Co-founder DaMENSCH on the company’s expansion plans.
“We are targeting a 3x growth year-on-year in 2022 and will be leveraging multiple channels for increasing our market penetration across geographies,” said Anurag Saboo, cofounder of Damensch.
“DaMENSCH has become the go-to brand for affluent men who are looking for a 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.
Founded in 2018 by Anurag Saboo and Gaurav Pushkar, DaMENSCH innovates the design of men’s apparel to create premium essential wear for modern men.
Presently, the company’s portfolio has over 200 stock-keeping units listed across more than 15 categories and has made over 10 million shipments to more than 10,000 pin codes across the country.
The company’s product line includes ‘Deo-Soft’- India’s first odour cancelling underwear- and ‘Neo-Skin’-thermo regulating vests made from a curated composition of sustainable bamboo fibres. It expanded its offering within loungewear and sleepwear in 2021.
DaMENSCH is targeting 3x times growth in the coming fiscal year.