The Bear House Raises Rs 50 Cr Funding To Expand Offline Presence

Shark Tank Fame The Bear House, a D2C menswear brand has raised Rs 50 Cr (around $5.8 Mn) in its Series A funding round led by JM Financial Group’s investment arm JM Financial Private Equity.

The startup will use the funds to expand its offline presence, cover working capital needs and strengthen its branding and marketing efforts.

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Siddharth Kothari, Managing Director - Private Equity, JM Financial, stated, "We are optimistic about the growth of India's online branded apparel market, particularly in the men's business-casual and casual workwear segment. The Bear House has demonstrated impressive growth by leveraging its unique design sensibilities and direct-to-consumer approach. With the rising demand for high-quality, stylish menswear, we believe The Bear House is well-positioned to become one of India's leading menswear brands."

Harsh Somaiya, Co-founder, The Bear House, said, "This growth capital infusion and partnership with JM Financial India Growth Fund III will accelerate our expansion plans and strengthen our brand's presence. We have always been committed to delivering premium quality and contemporary designs to our customers. As we scale our offline footprint and invest in brand-building, we remain focused on staying true to our design philosophy and deepening our connection with customers. Our goal is to make The Bear House a go-to brand for men's fashion across India."

About The Bear House

Founded in 2017 by Harsh Somaiya and Tanvi Somaiya, the Bengaluru-based The Bear House sells premium casual workwear through its website and other e-commerce platforms. It has been working towards an omnichannel strategy and recently opened its first physical store in Bengaluru. 

It now plans to launch 20 more stores across India in the next two years.

Its main competitors, The Souled Store and Bewakoof, are also expanding offline. The Bear House stands out with its minimalist, European-style collection.

The startup appeared on Shark Tank India (Season 4) and secured a Rs 3 Cr investment from Emcure Pharmaceuticals’ Namita Thapar, valuing the company at Rs 100 Cr.

Financially, The Bear House saw its net profit grow 9.3 times to Rs 11.2 Cr in FY24 from Rs 1.2 Cr in FY23. Its revenue rose 79.5% to Rs 96.2 Cr from Rs 53.6 Cr.

EBITDA increased to Rs 11.4 Cr in FY24 from Rs 2.5 Cr in the previous year, with EBITDA margin improving from 5% to 12%. The startup aimed to cross Rs 250 Cr in revenue in FY25.

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