, a men’s premium innerwear and lifestyle brand, has raised Rs 110 crore (approx $13.5 million) in its Series C funding round led by Amazon Smbhav Venture Fund.
All existing institutional investors, including Sauce.vc, Anicut Capital, DSG Consumer Partners, and Singularity Growth Opportunities Fund, also participated in this round.
“We’ve seen rapid growth, right from our inception in 2016, and we plan to use the investment to keep doing more of the same, focusing on our core product categories and driving efficiency and profitability through greater scale and better use of technology,” Yogesh Kabra, Founder, XYXX said in a statement.
Founded in 2016, XYXX is a Surat-based men’s lifestyle brand that specialises in underwear, loungewear and athleisure made from premium fabrics, and offers them in quirky colours and designs.
XYXX said it has a robust pan-India presence with over 18,000 touchpoints through top mobile brand outlets (MBOs), including Shopper’s Stop, Reliance Trends etc. XYXX products are available on their website and present on 14+ leading ecommerce marketplaces, including Amazon, Flipkart, Myntra, and Ajio.
In FY23, the brand launched its first-ever exclusive brand outlet (EBO) in central Mumbai, soon followed by Indore, Bengaluru, and north Mumbai. The brand aims to open another six stores and double the EBO scale in FY24.
“We are impressed with the XYXX management team led by Yogesh Kabra and their ability to continuously serve consumers with high-quality differentiated selection across categories and multi-channel distribution. In a short time, XYXX has created strong brand recall with their relentless focus on product market fit and we are excited to work with them for their next phase of growth,” Amazon Smbhav Venture Fund said in a statement.
