Highlights
Funding Update: Dressfolk Secures Investment for Expansion
Dressfolk, a brand dedicated to handloom clothing, has successfully secured a new round of funding, the details of which remain undisclosed. This round was led by Eternal Capital and included contributions from notable D2C entrepreneurs such as Ghazal Alagh, the founder of Mamaearth, and Dhruv Koli, the founder of Boba Bhai. Additional support came from Nobody Ventures and Eagle Wings Ventures.
The funding round also saw participation from 3 Peaks Ventures, alongside existing investors including All In Capital, Sidhant Keshwani, associated with Libas, and Vidur Kataria of Master Chow.
The funds raised are intended to assist the brand in rapidly diversifying its offerings beyond sarees, aiming to develop a wider range of contemporary Indian apparel.
Previous Funding and Brand Background
In early October 2023, Dressfolk closed a seed funding round of Rs 3.3 crore, which was led by All-In Capital along with other investors.
Founded in 2017 by Nitin Mehrotra, Dressfolk is committed to empowering local artisans and promoting sustainable fashion. The brand has witnessed impressive growth, with a remarkable 200% increase in FY24. It boasts an Average Order Value (AOV) exceeding Rs 7,000.
Artisan Collaboration and Distribution Expansion
Currently, Dressfolk partners with a vast network comprising more than 800 weavers and 120 artisans across six states in India. In addition to its own website, the brand has enhanced its distribution through major marketplaces like Aza Fashions, Nykaa, and Myntra, while also organising pop-up events throughout the country.