Men's Grooming Brand Menhood Raises INR 2.35 Crore From Velocity The brand will use the financing to scale up their inventory to cater to the increasing demand and meet their striving goal of achieving revenue of over INR 24 crore
By Teena Jose •
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Dedicated men's grooming brand Menhood has raised INR 2.35 crore over multiple tranches from Velocity.in, India's revenue-based financier. The brand will use the financing to scale up their inventory to cater to the increasing demand and meet their striving goal of achieving revenue of over INR 24 crore.
"Velocity's support has allowed Menhood to expand its product line and enter new markets. With this, Menhood is now ready to expand its product line and enter new markets. We have moved from being just a male grooming brand to a male fashion lifestyle brand, with the introduction of fragrances along with beard trimmers," said Dushyant Gandotra, founder and CEO of Menhood.
Menhood has leveraged a mixture of paid advertisement and WhatsApp marketing to extend its reach, resulting in a 15% repeat customer rate each month and a staggering 75% of customers opting for prepaid orders. Highlighting the success of this strategy, Menhood stands alone as one-of-a-kind with these metrics. The new financing will help Menhood strengthen its position as the leading provider of male grooming services in India and beyond, claimed by the company in a statement.
"We are excited about this partnership. The company has a comprehensive range of high-quality grooming products designed specifically for men, aimed at breaking down the taboos surrounding men's grooming. We have full confidence in the founders and their approach to addressing this cause for all men. With this funding, we expect that Menhood will be able to capitalize on new opportunities and achieve even greater success," said Atul Khichariya, COO of Velocity.
Founded in 2020 by Dushyant Gandotra and Shivam Bhateja, Menhood strives to educate about the basic hygiene due to a lack of information and the taboo nature of discussing private parts.
