Almo Raises $2 Million In Pre-Series A Round
The fund raised will be used to strengthen the branding and marketing for an innovative and viable product range
Almo, a D2C brand in the men's premium essential wear space, has raised $2 million in pre-Series A funding round led by Inflection Point Ventures, along with LetsVenture, AngelList India, and other angels. Almo aims to use the fund to bolster its branding and marketing efforts along with the setting up of its state-of-the-art R&D lab to continue innovating on sustainable product lines.
"We have always followed a lean approach to scale across various online marketplaces, though D2C continues to be our primary channel which has been an edge against the traditional incumbents. We also plan to explore international markets this year via Amazon's Global Selling Propel Accelerator program access," said Abhishek Shah, co-founder and CEO, Almo.
The brand offers minimalistic designs through a range of underwear, top wear, loungewear and winter wear. The brand has grown tremendously in terms of revenue and offerings in a short time since its inception and aims to cross INR 100 crore revenue by year-end, claimed by the company in a statement.
"Almo, with its clear vision to make premium sustainable men's essential wear is deep-rooted in consumer engagement via a digital-first approach, has a great potential to bridge gap in the market," said Mitesh Shah, co-founder, Inflection Point Ventures.
Founded in 2020 by Abhishek Shah, Muskaan Jain and Chhavi Bhardwaj, Almo is an emerging D2C men's premium essential wear brand that aims to fulfill the aspirations of evolved Indian men to upgrade to international style, quality and trends. The brand is driven to imbibe sustainability in every part of the value chain to make a long-term positive impact.