DaMENSCH, the direct-to-consumer (D2C) men’s lifestyle brand, has recently closed an extended Series B funding round, raising approximately Rs 21.62 crore (about $2.5 million) from its existing investors. This investment, marking the company’s return to the fundraising arena after a two-year hiatus, is seen as a strategic move, positioning DaMENSCH for further growth in the highly competitive market.
According to regulatory filings accessed from the Registrar of Companies, DaMENSCH issued 1,017 shares at an issue price of Rs 2,12,515 each to raise fresh capital. Notably, existing backers, including Matrix Partners, Saama Capital, Whiteboard Capital, and A91 Emerging Fund, showed confidence in the company by participating in this round.
DaMENSCH’s fundraising history shows steady growth, with over $25 million raised to date, including its notable $16.6 million Series B round led by A91 Partners in February 2022. Per data from startup intelligence platform TheKredible, A91 Partners remains the most significant external stakeholder, followed by Matrix and Saama Capital.
Established in 2018 by Anurag Saboo and Gaurav Pushkar, DaMENSCH offers a diverse range of innerwear and casual wear for men. Its distribution strategy involves leveraging its website and prominent marketplaces like Amazon, Flipkart, and Myntra.
While DaMENSCH has yet to disclose its financial statements for the fiscal year 2023-24, its revenue for the previous year saw a notable 22.7% year-on-year growth, reaching Rs 77.57 crore. However, the firm’s losses doubled, reaching Rs 62.34 crore in the same period, indicating the challenges in scaling its operations profitably.
In the competitive landscape, DaMENSCH faces rivals such as Bummer, which recently secured Rs 9.25 crore from Gruhas Collective Consumer Fund. Another significant player is XYXX, which has raised over $36 million in funding, including a $13.5 million investment from the Amazon Sambhav Fund in May last year.
With the fresh capital infusion, DaMENSCH aims to strengthen its market position further, expand its product offerings, and enhance its distribution network. Despite stiff competition and widening losses, the company’s continued backing from existing investors underscores confidence in its long-term vision and potential for growth in the burgeoning men’s lifestyle segment.
