DSG Consumer Partners and Synergy Capital Partners joined existing investor Sauce.VC to invest in this round.
XYXX, a front-runner in the men’s innerwear and comfort-wear space, has raised INR 30 Cr in its Series-A round of funding. DSG Consumer Partners and Synergy Capital Partners joined existing investor Sauce.VC to invest in this round.
Led by founder Yogesh Kabra, XYXX aims to revolutionize the men’s basics segment in India with innovative fabrics and contemporary designs. As a consumer, he wanted more from his basics but soon realized that good-quality basics were either impossible to find in store aisles or almost unaffordable for the average Indian man. He decided to take matters into his own hands and XYXX was born in 2016 with the aim to make buying and wearing innerwear an enjoyable, fun experience for India’s young men. XYXX has seen explosive growth in the last year with revenues jumping by over 300% compared to pre-COVID 19 levels.
XYXX has adopted an omnichannel approach to serving its customers. The brand is present in over 6,000 strategic offline outlets and all major e-commerce marketplaces. Over the next year, XYXX aims to scale its offline presence to 15,000 stores across the country. Commenting on the funding, Yogesh Kabra, Founder, XYXX says, “Developing better basics starts with fabric innovation, and each of our fabrics scores fantastically on a wide range of performance and comfort parameters. Our products are designed to be gentle on the skin, eliminate all unwanted friction and move with you. This level of attention to detail is in our DNA. Our mission is to challenge the status quo and strengthen our position as a proudly homegrown brand at the forefront of clothing technology for unrivaled comfort. In the last year itself, we have witnessed tremendous growth of over 300% as compared to pre-pandemic levels. We are happy to have found the perfect partners in DSG Consumer Partners, Synergy Capital Partners and Sauce.VC to achieve the shared vision of reaching market leadership in the long term.”
Source: Business World