The fund was raised in a pre-SeriesA Â round led by Inflection Point Ventures.
Almo has closed its pre-Series A funding of $2mn led by Inflection Point Ventures along with LetsVenture, AngelList India, and leading angels from the industry. Almo intends to bolster its branding & marketing efforts along with setting up its state-of-the-art R&D lab to continue innovating on sustainable product lines.
Abhishek Shah, Co-Founder & CEO, says “Almo’s vision is to be the one-stop essentials’ destination for the evolved man, led by product innovation and customer obsession. We are thrilled and look forward to the partnership with IPV in this phenomenal journey, and we are just getting started! We have always followed a lean approach to scale with positive unit metrics, with this funds infusion we plan to continue strengthening our team & brand 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!â€
Mitesh Shah, Co-Founder, Inflection Point Ventures, continues, “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 the gap in the market. With the growing need and evolving market, IPV aims to extend its expertise to strengthen the brand’s sustainable and innovative Men’s product line. Additionally, IPV looks forward to scaling its primary market and helping them tap the global market in the near future.
Launched in June 2020 by Abhishek Shah, Muskaan Jain and Chhavi Bhardwaj, Almo is bringing the Italian seamless designs & sophistication to the Indian men’s closet at the right price point. With sustainability as one of the core ethos, the brand offers minimalistic designs through a range spanning underwear, topwear, loungewear & winter wear. The brand has grown tremendously in terms of revenue and offerings in a short time since its inception and aims to cross Rs 100cr revenue by year-end. Almo also plans to strengthen its 30+ people team with strategic hirings across key areas to lay the foundation for the long term scale up opportunities.
With a focus on bringing an elevated experience to the new-age digital users, Almo is constantly iterating its product to solve the consumers’ problems of accessing premium quality essentials wear with the right style & comfort balance delivered seamlessly. From launching with innerwear in 2020 to having a broader range of loungewear & winterwear, Almo has been making everyday premium essential wear with a modern twist. The team is driven to imbibe sustainability in every part of the value chain to make a long-term positive impact.