Updated on Sep 23, 2026

DaMENSCH Raises INR 17.40 Crore at Flat INR 600 Crore Valuation

Fashion News Chirag Pariyani6 Mins reading time

D2C men’s apparel brand DaMENSCH has raised INR 17.40 crore (approximately USD 1.9 million) from existing investor A91 Partners and new investor Tancom Electronics at a flat valuation of INR 600 crore (approximately USD 63.5 million). The USD equivalent is based on the exchange-rate basis used in the funding report.

The funding comes as the brand continues to build its presence across innerwear, casualwear and everyday apparel, while India’s D2C fashion market increasingly shifts attention from topline expansion to the quality and efficiency of growth. Entrepreneur India reports that A91 Partners invested INR 15 crore and Tancom Electronics contributed INR 2.40 crore in the latest round.

What Happened?

A91 Partners invested INR 15 crore by subscribing to 887 compulsorily convertible preference shares (CCPS) at INR 1,69,052 per share. Tancom Electronics invested another INR 2.40 crore through 168 CCPS issued at INR 1,42,692 per share. Together, the two investments represent INR 17.40 crore of fresh capital raised by DaMENSCH in the latest CCPS issuance.

The round values the company at approximately INR 600 crore. The previous valuation was reported at USD 70 – 75 million, or approximately INR 582 crore on the exchange-rate basis cited at the time. Because the INR and USD figures use different exchange-rate bases, the comparison is clearer in rupee terms: the latest valuation is broadly flat against the previously reported INR 582 crore figure. The company had previously raised INR 21.62 crore in an extended Series B round in May 2024.

The latest capital is expected to support business requirements and future growth. A91 Partners remains DaMENSCH’s largest shareholder, with a 22.45% stake, while Matrix Partners, Saama Capital and Whiteboard Capital remain among its other significant institutional investors.

Founded in 2018 by Anurag Saboo and Gaurav Pushkar, DaMENSCH operates across innerwear, casualwear and everyday apparel, selling through its own platform and online marketplaces. The company has raised more than USD 28 million to date.

Key Highlights

Company: DaMENSCH
Funding raised: INR 17.40 crore
Valuation: INR 600 crore
Investors: A91 Partners and Tancom Electronics
A91 Partners investment: INR 15 crore
Tancom Electronics investment: INR 2.40 crore
Founded: 2018
FY25 revenue: INR 118 crore
FY25 revenue growth: 34%

Why This Matters for Fashion & D2C

The most significant part of DaMENSCH’s latest funding is not the INR 17.40 crore headline, but the fact that the company has raised fresh capital without a meaningful increase in valuation.

For D2C fashion brands, this can be read as a sign of a more selective funding environment. Earlier phases of the sector were heavily focused on customer acquisition, category expansion and rapid revenue growth. NeoMa Capital’s July 2026 research similarly describes India’s D2C market as moving from a growth-at-all-costs phase toward greater focus on unit economics and profitability.

DaMENSCH’s FY25 revenue increased 34% to INR 118 crore. However, revenue growth by itself does not tell the full story for an apparel business. Inventory cycles, returns, customer acquisition costs, marketplace commissions and repeat purchases can significantly influence how much value a brand creates from each rupee of revenue.

That makes the flat valuation particularly relevant. A company can continue growing while investors remain cautious about assigning a higher valuation, creating greater pressure to demonstrate operational improvement alongside topline growth.

The investor structure also provides an interesting signal. A91 Partners, an existing investor and DaMENSCH’s largest shareholder, has continued to back the company, while Tancom Electronics enters as a new investor. The combination gives DaMENSCH fresh capital while maintaining continuity with an existing institutional backer.

The funding also comes against a competitive men’s essentials market. DaMENSCH has expanded beyond its original innerwear proposition into broader everyday apparel, which increases its addressable market but also introduces more complexity around inventory, assortment and customer acquisition.

For D2C fashion businesses, the broader lesson is that capital efficiency and repeatable customer economics can matter as much as capital availability.

What DaMENSCH’s Funding Means for D2C Brands

DaMENSCH’s round offers a useful signal for D2C founders: raising capital at a flat valuation can provide additional room to execute without making valuation growth the central story. In NineE’s view, the more relevant question is whether the company can use the capital to strengthen the underlying economics of the business.

For founders, that means keeping a close watch on inventory discipline, contribution margins, repeat purchase rates, distribution choices and customer acquisition costs. These metrics become especially important for apparel brands operating across their own websites, marketplaces and newer distribution channels.

The latest round therefore gives DaMENSCH additional room to execute, while the next stage of the company’s story will depend on how effectively it converts the funding into sustainable growth.

About DaMENSCH

Founded in 2018, DaMENSCH is a D2C men’s fashion and lifestyle brand founded by Anurag Saboo and Gaurav Pushkar. It sells innerwear, casualwear and everyday apparel through its own platform and online marketplaces. The company has raised more than USD 28 million to date and reported FY25 revenue of INR 118 crore, up 34% year on year.

Sources Used