Handloom womenswear brand Dressfolk has raised Rs 3.3 crore in a seed funding round led by All In Capital. The business plans to use the investment to expand its product categories and distribution channels and bolster its team and operations.
“Sarees have become the biggest and one of the fastest growing apparel category and we are confident that Nitin and his team at Dressfolk will have a meaningful impact in the ethnic wear segment,” said All In Capital’s co-founder Aditya Singh, India Retailing reported.
The seed funding round also saw participation from investors including Sidhant Keshwani of Libas, Sidhesh Chauhan of Jade Blue, and Riju Jhunjhunwala of RSWM Ltd. Angel investors including JK Family Office’s Vikrampati Singhania, the Damani Family Office’s Apurva Ramesh Damani, and Petronas’ Pranav Sanghvi also took the opportunity to invest in the business.
“India’s direct-to-consumer market is a growing market with fashion and clothes players owning a larger share of the pie,” said Libas’ founder Sidhant Keshwani. “But this big opportunity comes with a tough competition, and we believe Dressfolk has all the right ingredients to become a true disruptor and challenger brand in the luxury handloom space.”
Dressfolk was founded in 2017 as a handloom-focused womenswear brand. To date, the company has worked with over 720 artisans across India to bring its designs to shoppers in 20 countries. Dressfolk retails from its direct to customer e-commerce store as well as with a number of online and offline multi-brand retailers.
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