Damensch has raised $16.4 million in a Series B funding round led by A91 Partners. It will utilise these funds to invest in technology enhancements to strengthen and diversify the product portfolio, the company said in a release. Existing investors Saama Capital, Matrix Partners, Whiteboard Capital and Alteria Capital also participated in the funding round, the company said.

“We have held the tailwind from the consumer shopping behaviour shift to online and have gained Rs 100 Crores in annualised revenue run rate (ARR) in the year 2021. We are targeting a 3x growth year-on-year in the year 2022 and will be purchasing multiple channels for growing our market penetration across countries,” Anurag Saboo, co-founder of Damensch, said.

Founded in 2018 by Saboo and Gaurav Pushkar, Damesnch’s products are ‘Deo Soft,’ i.e. India’s first odour cancelling underwear and ‘Neo Skin,’ i.e. thermo-regulating vests made from sustainable bamboo fibres. The company expanded its offering in loungewear and sleepwear in the year 2021. “We are building a strong tech team to help us in this next phase of growth while boosting investment in product development to continue to lead with innovation,” Gaurav Pushkar, co-founder of Damensch said.