Surat-based men’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 use the funding to build its product portfolio, strengthen retail presence and build brand awareness, the company said in a statement.
“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 statement said.
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 currently retails through 6,000 offline outlets and e-commerce marketplaces, including Amazon, Myntra, Flipkart and Ajio, among others.
Over the next year, the company aims to scale its offline presence to 15,000 stores across the country.