Almo, a D2C brand in the men’s premium essential wear space, has closed its pre-Series A funding of $2mn led by Inflection Point Ventures along with LetsVenture, AngelList India, and other angels from the industry. Almo intends to bolster its branding and 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 and CEO said, “Almo’s vision is to be the one-stop essentials’ destination for the evolved man, led by product innovation and customer obsession. With this funds infusion, we plan to continue strengthening our team and 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!”
Launched in June 2020 by Abhishek Shah, Muskaan Jain and Chhavi Bhardwaj, Almo is bringing the Italian seamless designs and sophistication to the Indian men's closet at the right price point. The brand aims to cross Rs 100 crore revenue by year-end and 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.
Investor speak
Mitesh Shah, Co-Founder, Inflection Point Ventures says, “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.”
