Surat-based males’s innerwear brand XYXX has raised Rs 30 crore in a Series A funding round led by DSG Consumer Partners, Synergy Capital Partners and Sauce.VC. XYXX intends to make use of the funding to construct its product portfolio, strengthen retail presence and construct brand consciousness, the corporate mentioned in a press release.
“XYXX has raised Rs 30 crore in its series-A round of funding. DSG Consumer Partners and Synergy Capital Partners joined existing investor Sauce.VC to invest in this round,” the assertion mentioned.
PTI quoted Yogesh Kabra, Founder, XYXX as saying, “Over the past year, we have witnessed tremendous growth of over 300 per cent as compared to pre-pandemic levels. Since we are currently at a high-growth stage in our journey as a brand, we aim to use resources to expand our product portfolio, strengthen our retail presence and build brand awareness.”
Founded in 2016, XYXX at the moment retails by 6,000 offline shops and e-commerce marketplaces, together with Amazon, Myntra, Flipkart and Ajio, amongst others.
Over the following yr, the corporate goals to scale its offline presence to 15,000 shops throughout the nation.
