DaMensch raises ₹50 cr from Matrix Partners India & others

DaMensch, an India-based premium men’s apparel brand, has raised approximately ₹50 crore from Matrix Partners India, Saama Capital, Whiteboard Venture Partners and Alteria Capital. The brand’s journey started in late 2018 with the most neglected cloth in a man’s wardrobe, his innerwear, and now it plans to expand this innovation in other categories.

 

DaMensch was established by Anurag Saboo and Gaurav Pushkar, with the vision of redefining the standards of quality, aspiration, and comfort for the modern man. Their product line reflects the brand’s ideology of innovation which started with an exceptional range of innerwear that includes “Deo-Soft” - India’s first odour cancelling underwear, “Neo-Skin” - thermoregulating vests made from a curated composition of sustainable bamboo fibres, amongst other products catered to the comfort of the modern man.

 

In a step towards sustainability, DaMensch’s latest packaging is made from corn and is devoid of any form of plastic. The brand’s target audience comprises men in the age group of 20-45 years.

 

DaMensch sells through its own website along with other major e-commerce retailers such as Amazon, Flipkart, and Myntra, among others. Its strong social media connection ensures that a majority of the brand’s sales are routed directly through its own platform, allowing it to truly leverage the direct-to-consumer channel.

 

The brand not only grew 3x post lockdown but has also turned profitable. It clocked a cumulative sales of over ₹1 crore within 5 days during the festive sale period in October. "DaMensch has also consistently achieved category-leading ratings and reviews for its products across all e-commerce platforms, which is a testament to the customer love and brand pull they have been able to generate in a short period of time," a press release said.

 

“Through our innovative products, we are on a mission to make men not only comfortable but also confident to stay distinctive in whatever they do. We started this journey by challenging the status quo for men’s innerwear and now plan to move ahead to further expand our offerings,” said Saboo.

 

“At DaMensch, we are pushing the limits of textile engineering and solving unseen problems. Obsession with the best is the secret sauce of DaMensch. We are continuously improving and expanding our line up with unique and distinguished products which help us maintain a differentiated quality experience for our customers in the market,” said Pushkar.

 

“We are excited to double down on our investment in Gaurav and Anurag (the co-founders) with the excellent progress made at DaMensch! From the outset, the product and customer focus of the founders was apparent in the customer love and product reviews and has now shown up in the business growing almost 8x in the last 18 months. We look forward to the exciting journey ahead along with our co-investors Saama, Whiteboard and Alteria,” said Avnish Bajaj, founder and managing director, Matrix India.

 

Ash Lilani, partner at Saama Capital, said, “We're thrilled about the traction demonstrated by the DaMensch team in becoming the leading brand in India for men's essentials. We are excited to back Anurag and Gaurav given their passion to build a business differentiated by high quality products, strong brand values and a customer-first approach.”

 

“DaMensch is a strong example of how a new age direct-to-consumer brand should be built with high customer centricity coupled with sharp focus on the financial metrics and profitability of the business. We are so delighted to have been part of this journey from the start,” said Anshu Prasher, partner at Whiteboard Venture Partners.