Damensch raises $16.4 million in funding led by A91 Partners

By

Maverick Martins

Published
Feb 28, 2022

Bengaluru-based men’s clothing direct-to-consumer brand Damensch has raised $16.4 million (Rs 123 crore) in a fresh funding round led by A91 Partners.
 

Existing investors such as Matrix Partners, Whiteboard Venture Partners, Alteria Capitsl, and Saama Capital also participated in the funding round.
 
The company will utilise the funds in technology enhancements and diversification of product portfolio.

Commenting on the investment, Prasun Agarwal, partner at A91 Partners in a statement said, “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."
 
Anurag Saboo, co-founder of Damensch added, “We have leveraged the tailwind from the consumer shopping behaviour shift to online and have clocked Rs 100 crore in annualised revenue run rate or ARR in 2021, we are targeting a 3x growth year-on-year in 2022 and will be leveraging multiple channels for increasing our market penetration across geographies.”

Founded in 2018 by Anurag Saboo and Gaurav Pushkar, the premium men's wear online brand sells through its platform and other e-commerce websites like Amazon, Flipkart, and Myntra, among others.