Gurgaon -based D2C brand Almo bags $2M funds led by Inflection point ventures
- ByStartupStory | May 25, 2022
Almo, a D2C men’s innerwear brand has raised $2million in pre-series A funding round. The round was led by Gurgaon-based angel firm Inflection point ventures. LetsVenture, AngelList India, and other prominent angels have also participated in the round.
Founded in 2020, The Firm has developed substantially in terms of income and offers in a short period of time since its beginning, and it hopes to reach Rs 100 crore in revenue by the end of this year. According to the announcement, Almo will utilize the funds to expand its branding and marketing activities, as well as establish a state-of-the-art research and development facility to continue developing sustainable product lines.
Abhishek Shah the CEO of Almo, “we have always followed a lean approach to scale with positive unit metrics, with these funds infusion we plan to continue strengthening our team & brand to scale across various online marketplaces, though D2C continues to be our primary channel which has been an edge against the traditional incumbents”
Founded by Abhishek Shah, Muskaan Jain, and Chhavi Bhardwaj, Almo brings Italian seamless designs and refinement to the Indian men’s closet at an affordable cost. The company also wants to improve its 30-person team with targeted hires in key areas to build the groundwork for long-term growth potential, according to the statement.
Almo is continually iterating its product to answer the consumers’ concerns of obtaining high-quality necessities wear with the perfect style & comfort balance supplied smoothly, with an emphasis on giving an upgraded experience to new-age digital users.
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