D2C men’s lifestyle brand DaMENSCH has raised Rs 25 crore debt from Alteria Capital. This is the first debt financing round for the company in 2022.
The board at DaMENSCH has passed a special resolution to issue 2,500 Series A2 non-convertible debentures (NCD) to Alteria Capital at an issue price of Rs 1,00,000 per debenture to raise Rs 25 crore or a little over $3 million, regulatory filings with the RoC show.
Founded in 2018 by Anurag Saboo and Gaurav Pushkar, DaMENSCH’s product line includes Deo-Soft and Neo-Skin. It offers a full range of innerwear and casual wear among others. In February this year, the Bengaluru-based company scooped $16.4 million in Series B round led by A91 Partners.
In November 2020, DaMENSCH had raised close to $7 million in Series A round led by Matrix Partners India. As of now, the company has raised around $25 million in equity capital across three institutional rounds.
While DaMENSCH is yet to disclose its financial numbers for FY22, its revenue from operations grew 2.4X to Rs 21.2 crore in FY21 from Rs 8.7 crore in FY20. As per its annual financial statements with the RoC, the company’s losses surged nearly 70% to Rs 5.8 crore in FY21 as compared to Rs 3.4 crore during FY20.
