Premium men’s innerwear brand DaMENSCH is raising $16.4 Mn (INR 122.7 Cr) in a fresh funding round led by A91 Partners. The new round, which seems to be the startup’s Series B round of funding, will also see participation from its existing investors such as Matrix Partners, Whiteboard Venture Partners, and Saama Capital.
As per the recent regulatory filings accessed by Inc42, in an extraordinary general meeting held on February 14, the Board of DaMENSCH has passed a resolution to issue 5,761 Series B CCPS and 10 equity shares among the above-mentioned investors.
A91 Partners is infusing almost INR 100 Cr in the new round. It is to be noted that the round size might get bigger with the possibility of a debt round coming in from Alteria Capital.
The investment comes almost after 15 months since it had last raised INR 50 Cr in its Series A round. The startup’s Series A funding round saw participation from Matrix Partners India, Saama Capital, Whiteboard Venture Partners and Alteria Capital.
Founded in 2018 by Anurag Saboo and Gaurav Pushkar, DaMENSCH 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.
Over the years, the startup has expanded its product offerings. As per its website, the startup now offers polo-tshirts, t-shirts, shorts, sweatshirts, hoodies, joggers, pyjamas, tank tops, and chino shorts for men.
DaMENSCH sells through its own website and other major e-commerce retailers such as Amazon, Flipkart, and Myntra. The startup offers 30 days return and exchange on loungewear and claims to provide free shipping for products worth over INR 600.