Tuesday, March 28, 2023
HomeInsightFunding Alert Almo raises $2 mn in pre-Series A round led by Inflection...

[Funding alert] Almo raises $2 mn in pre-Series A round led by Inflection Point Ventures

[Funding alert] Almo raises $2 mn in pre-Series A round led by Inflection Point Ventures

Almo Digital Pvt Ltd, which runs direct-to-consumer (D2C) men’s innerwear brand Almo has raised $2 million in its pre series A funding round from Inflection Point Ventures with participation from LetsVenture and AngelList India, and among others.

The startup plans to use the funds to strengthen its branding and marketing along with its research and development lab for an innovative and viable product range.

Gurgaon based Almo was founded in 2020 by Abhishek Shah, Muskaan Jain and Chhavi Bhardwaj, It is a fast growing D2C mens premium essential wear brand.

They claim to bring Italian design and sophistication to the Indian men’s wardrobe at the right price.

“Almo’s vision is to be the one-stop essentials’ destination for the evolved man, led by product innovation and customer obsession. With this funds infusion, we plan to continue strengthening our team and brand to scale across various online marketplaces, though D2C continues to be our primary channel which has been an edge against the traditional incumbents. We also plan to explore international markets this year via Amazon’s Global Selling Propel Accelerator program access”, said, Abhishek Shah, Co-Founder and CEO of Almo.

The D2C brand aims to cross Rs 100 crore revenue by the end of this financial year and also seeks to strengthen its team of 30+ people with strategic recruitment in key areas to lay the foundation for long term scale opportunities.

“Almo with its clear vision to make premium sustainable men’s essential wear is deep-rooted in consumer engagement via a digital first approach, has a great potential to bridge the gap in the market. With the growing need and evolving market, IPV aims to extend its expertise to strengthen the brand’s sustainable and innovative Men’s product line. Additionally, IPV looks forward to scaling its primary market and helping them tap the global market in the near future”, said, Mitesh Shah, Co-Founder, Inflection Point Ventures.

In June 2021, Almo had raised undisclosed amount in seed funding round led by Angelist India and a group of industry angels.

About Almo

Almo is a Premium Men’s essentials brand focused on bringing sophisticated yet functional designs to customers wardrobe. They believe that the first layer of clothing that touches Coustomer skin should be more of an experience rather than just a fabric. And that is what they  create. Sophisticated designs with carefully chosen fabrics that make the essential wear comfortable, skin-friendly & environment positive, all at the same time.



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