XYXX Secures Rs 110 Crore Funding Round Led by Amazon Smbhav Venture Fund

• ByStartupStory     |    May 16, 2023

Men’s premium innerwear and lifestyle brand XYXX has successfully raised Rs 110 crore (approximately $13.5 million) in its Series C funding round. The funding was led by Amazon Smbhav Venture Fund, with participation from all existing institutional investors such as Sauce.vc, Anicut Capital, DSG Consumer Partners, and Singularity Growth Opportunities Fund.

Yogesh Kabra, Founder of XYXX, expressed excitement about “the rapid growth the brand has experienced since its establishment in 2016”. He further mentioned that “the recently raised investment will be utilized to maintain momentum, particularly by focusing on core product categories and leveraging technology to achieve greater scale, efficiency, and profitability”.

XYXX, established in 2016, is a men’s lifestyle brand based in Surat. The brand specializes in offering premium quality underwear, loungewear, and athleisure made from high-quality fabrics. XYXX stands out with its unique range of products available in vibrant colors and innovative designs.

XYXX has established a strong nationwide presence with a wide network of over 18,000 touchpoints, including renowned mobile brand outlets (MBOs) such as Shopper’s Stop and Reliance Trends. The brand’s products can be conveniently purchased through their official website and are also available on more than 14 popular ecommerce marketplaces, including Amazon, Flipkart, Myntra, and Ajio.

XYXX opened its inaugural exclusive brand outlet (EBO) in central Mumbai in FY23, with subsequent outlets following in Indore, Bengaluru, and north Mumbai. The men’s lifestyle brand plans to open six more stores and double its EBO scale in FY24.

Amazon Smbhav Venture Fund expressed their admiration for the management team of XYXX, particularly Yogesh Kabra, and their commitment to providing customers with exceptional products through various channels. The investment fund stated that XYXX has established a strong brand identity in a short period of time and that they are excited to collaborate with them for their future expansion plans.

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