Total amount raised
₹3.9 Billion
Latest funding date
5/1/2023
Location
XYXX Apparels has successfully raised funding over 8 rounds, with the latest being a Series C round. The company is backed by notable investors, including DSG Consumer Partners and Amazon Smbhav Venture Fund.
Keep reading to explore the intricacies of XYXX Apparels' fundraising journey and the investors supporting this innovative brand.
What Is XYXX Apparels?
XYXX Apparels is a retail and fashion company based in Surat, Gujarat, India. Specializing in men's clothing and accessories, the company operates in various sectors including apparel, e-commerce, fashion, lingerie, and retail.
Founded with a focus on premium men's fashion, XYXX offers a wide range of products such as innerwear, athleisure, and loungewear. The company employs between 51 to 100 people and is known for its innovative fabric technologies and superior craftsmanship.
How Much Funding Has XYXX Apparels Raised?
- Series C
- Amount Raised: INR 1,100,000,000 (approximately $13.5 million)
- Date: May 2023
- Lead Investors: Amazon Smbhav Venture Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen XYXX's position in the men's apparel and lifestyle market, focusing on core product categories and driving efficiency and profitability through scale and technology.
- Debt Financing
- Date: May 2023
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational and expansion activities.
- Series B
- Amount Raised: INR 900,000,000 (approximately $11.1 million)
- Date: August 2022
- Lead Investors: Singularity AMC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product lines and increase market reach.
- Debt Financing
- Amount Raised: INR 1,500,000,000 (approximately $18.5 million)
- Date: August 2022
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support financial stability and growth initiatives.
- Series Unknown
- Date: April 2022
- Lead Investors: KL Rahul
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage celebrity endorsement for brand growth.
- Series A
- Amount Raised: INR 300,000,000 (approximately $3.7 million)
- Date: June 2021
- Lead Investors: Sauce.vc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Seed
- Amount Raised: INR 60,000,000 (approximately $740,000)
- Date: September 2019
- Lead Investors: Sauce.vc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial market presence and product development.
- Seed
- Date: March 2019
- Lead Investors: Sauce.vc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the business and fund early-stage operations.
Total Amount Raised: $47.34 million
Current Valuation: Not publicly disclosed
Key Investors
- Amazon Smbhav Venture Fund
- Details: Amazon Smbhav Venture Fund is a venture capital fund established by Amazon to support innovative and high-growth potential companies. It led the Series C funding round for XYXX Apparels.
- Investment Focus Areas: Retail, technology, logistics
- Notable Investments: Not publicly disclosed
- Sauce.vc
- Details: Sauce.vc is an early-stage venture capital firm that focuses on consumer brands. It has been a consistent backer of XYXX Apparels since its early stages.
- Investment Focus Areas: Consumer brands, food and beverage, lifestyle
- Notable Investments: Not publicly disclosed
- Anicut Capital
- Details: Anicut Capital provides debt and equity capital to growth-stage companies. It has previously invested in XYXX Apparels.
- Investment Focus Areas: Growth-stage companies, debt financing, equity investments
- Notable Investments: Not publicly disclosed
- Singularity Growth Opportunities Fund
- Details: Singularity Growth Opportunities Fund invests in high-growth companies across various sectors. It participated in the Series C funding round for XYXX Apparels.
- Investment Focus Areas: High-growth companies, technology, consumer brands
- Notable Investments: Not publicly disclosed
- DSG Consumer Partners
- Details: DSG Consumer Partners focuses on early-stage consumer businesses. It has been a previous backer of XYXX Apparels.
- Investment Focus Areas: Early-stage consumer businesses, food and beverage, lifestyle
- Notable Investments: Not publicly disclosed
What's Next for XYXX Apparels?
XYXX Apparels is poised for significant growth, with plans to expand into new markets and open stores in Indore, Bangalore, and north Mumbai. The company aims to strengthen its position in the men’s apparel and lifestyle market by leveraging technology to drive efficiency and profitability. With a network of over 18,000 stores and a 95% growth rate in FY '23, the opportunities are vast.
Future fundraising seems likely given the rapid expansion and the backing of major investors like Amazon Smbhav Venture Fund. This financial support will be crucial as XYXX continues to scale operations and enhance its product offerings in athleisure, loungewear, and premium innerwear.
However, challenges such as maintaining profitability, managing operational costs, and facing competition from established brands could pose hurdles. Navigating these challenges will be essential for XYXX to sustain its growth trajectory and capitalize on the burgeoning demand for premium men's fashion.
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