Total amount raised
₹2.1 Billions
Latest funding date
5/1/2024
Location
DaMENSCH has successfully raised significant funding through multiple rounds, including a Series B round, to support its mission of innovating men's fashion with a focus on sustainability and comfort. The company designs and sells premium essential wear for modern men, utilizing sustainably sourced materials.
Keep reading to explore the intricacies of DaMENSCH's fundraising journey and the investors backing this innovative platform.
What Is DaMENSCH?
Founded in 2018 by Anurag Saboo and Gaurav Pushkar, DaMENSCH is based in Bengaluru, Karnataka, India. The company specializes in designing premium essential wear for modern men, focusing on sustainability and comfort. With a team of 101-250 employees, DaMENSCH continues to innovate in men's fashion.
How Much Funding Has DaMENSCH Raised?
- Seed Round
- Amount Raised: ₹17.5M
- Date: November 2018
- Lead Investors: Whiteboard Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial product lines.
- Seed Round
- Amount Raised: ₹120M
- Date: May 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and increase market presence.
- Series A
- Amount Raised: ₹500M
- Date: November 2020
- Lead Investors: Z47
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technological capabilities.
- Series B
- Amount Raised: ₹1.2B
- Date: February 2022
- Lead Investors: A91 Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel aggressive expansion and marketing efforts.
- Series B Extension
- Amount Raised: ₹216.2M
- Date: May 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: $66 million
- Motivation Behind the Round: To support ongoing growth and operational needs.
Total Amount Raised: ₹2.0537B
Current Valuation: $66 million
Key Investors
- Matrix Partners
- Details: Matrix Partners is a venture capital firm that invests in early-stage companies. They have a strong presence in sectors like technology, consumer services, and healthcare.
- Investment Focus Areas: Technology, consumer services, healthcare, enterprise software.
- Notable Investments: Ola, Practo, Quikr.
- Saama Capital
- Details: Saama Capital focuses on early to growth-stage investments. They are known for their investments in technology, consumer products, and healthcare sectors.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Snapdeal, Paytm, Vistaar Finance.
- Whiteboard Capital
- Details: Whiteboard Capital is an investment firm that provides seed and early-stage funding. They primarily focus on technology-driven companies.
- Investment Focus Areas: Technology, consumer, financial services.
- Notable Investments: Dunzo, Fynd, Licious.
- A91 Emerging Fund
- Details: A91 Emerging Fund focuses on growth-stage investments. They invest in sectors such as consumer goods, healthcare, and financial services.
- Investment Focus Areas: Consumer goods, healthcare, financial services, technology.
- Notable Investments: Sugar Cosmetics, Digit Insurance, Pushp.
What's Next for DaMENSCH?
DaMENSCH stands at the cusp of significant growth opportunities, driven by the booming Indian e-commerce market, which is projected to exceed $400 billion by 2030. The fashion apparel and accessories segment alone is expected to grow to $112 billion, offering a vast market for DaMENSCH's innovative innerwear and casual wear products. Leveraging major e-commerce platforms like Amazon, Flipkart, and Myntra, the company is well-positioned to capture a larger market share in the D2C men's lifestyle segment.
Future fundraising opportunities appear promising as investor confidence remains high. With over $25 million raised to date and a post-money valuation of around $66 million, DaMENSCH is likely to attract further investment to scale operations and expand its market presence. The involvement of prominent investors like Matrix Partners and A91 Emerging Fund suggests continued financial backing for future growth.
However, challenges loom on the horizon. Intense competition from other D2C brands such as Bummer and XYXX, coupled with rising operational costs, could impact profitability. Managing these expenses while maintaining growth momentum will be crucial. Despite these hurdles, DaMENSCH's strategic focus on innovation and sustainability positions it well for future success.
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