VC Fund Investments
Ethical clothing brand Dressfolk raises funding led by Eternal Capital
Delhi-based ethical clothing brand Dressfolk has raised funding in a round led by Eternal Capital, which also saw participation from Ghazal Alagh (Mamaearth founder), Dhruv Koli (Boba Bhai founder), Nobody Ventures, Eagle Wings Ventures and 3 Peaks Ventures. Existing investors All In Capital, Sidhant Keshwani (Libas founder) and Vidur Kataria (Master Chow founder) also participated in this round.The funds will be used for the expansion of the firm’s product line, beyond sarees.Founded by Nitin Mehrotra in 2017, Dressfolk aims to modernise Indian weaves and create luxurious and high-quality looms. The company designs and co-produces the garments with an artisan community consisting of 800 weavers across six states. It claims to transfer 35% of the proceeds directly to the local weavers.
In Jun-23, Dressfolk had raised about USD 4,00,000 from All In Capital, othersFor FY24, Dressfolk had reported about INR 4 Cr in Operating Income and about INR 2 Cr in Net Loss.
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