D2C Lifestyle Brand DaMENSCH Secures Additional Funding from Current Investors with the Same Valuation


Three points you will get to know in this article:

  • DaMENSCH raised Rs 21.62 crore in Series B extension, totaling over $25 million funding.
  • Company revenue grew but losses doubled in FY23.
  • DaMENSCH competes with Bummer and XYXX, requiring smart financial management for growth.

Introduction to DaMENSCH

DaMENSCH is a direct-to-consumer men’s lifestyle brand that focuses on premium and sustainable menswear. Founded in India, the brand is known for its innovative products and commitment to sustainability. DaMENSCH has raised $16.4 million in funding and is considered one of the leading D2C brands disrupting India’s consumer market. DaMENSCH prides itself on using sustainable and eco-friendly materials in its production process, making it an environmentally conscious brand. The company’s direct-to-consumer approach allows men to easily access and purchase their products online. Overall, DaMENSCH provides a unique and premium shopping experience for men looking for stylish and sustainable products.

Funding Details and Strategy

DaMENSCH, a direct-to-consumer men’s lifestyle brand, has recently secured Rs 21.62 crore (about $2.5 million) in additional funding through its extended Series B round from its current backers. This fresh infusion of funds, arriving after a two-year interval, seems to serve as a bridging investment for the Bengaluru-based company.

The board of directors at DaMENSCH has unanimously approved a special resolution to issue 1,017 shares priced at Rs 2,12,515 each, aiming to raise Rs 21.6 crore.

Investment Breakdown and Valuation

The latest funding round saw continued support from existing backers such as Matrix Partners, Saama Capital, Whiteboard Capital, and A91 Emerging Fund. This recent boost came in at a steady valuation, estimated by TheKredible to hover between $70-75 million after all’s said and done.

In total, DaMENSCH has gathered over $25 million in funding thus far. This includes the $16.6 million injection from its Series B round earlier in 2022, spearheaded by A91 Partners. Among the key players in DaMENSCH’s journey, A91 Partners holds the largest external stake, closely followed by Matrix and Saama Capital.

Established in 2018 by Anurag Saboo and Gaurav Pushkar, DaMENSCH specializes in a variety of innerwear and casual wear selections. They utilize their own website along with popular marketplaces like Amazon, Flipkart, and Myntra to reach customers.

Company Financials and Performance

Though financial statements for FY24 are pending, DaMENSCH witnessed a notable 22.7% revenue growth, reaching Rs 77.57 crore in FY23. However, despite this growth, the company experienced a significant increase in losses, doubling to Rs 62.34 crore in the fiscal year ending March 2023.

In the competitive landscape, DaMENSCH faces direct competition from Bummer, which recently received Rs 9.25 crore from the Gruhas Collective Consumer Fund in March. Additionally, XYXX stands out as a major player, having raised over $36 million in funding to date, including a substantial $13.5 million from the Amazon Sambhav Fund in May of last year.

DaMENSCH, a direct-to-consumer men’s lifestyle brand, has secured an additional Rs 21.62 crore in funding through its extended Series B round, with continued support from existing backers. This brings the total funding to over $25 million. Despite a significant 22.7% revenue growth in FY23, the company faced challenges as losses doubled to Rs 62.34 crore in the fiscal year ending March 2023. DaMENSCH operates in a competitive market, contending with formidable players such as Bummer and XYXX, which have secured substantial funding. Navigating this landscape requires careful financial stewardship and strategic planning to sustain growth and profitability.

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