Direct-to-consumer brand Almo has closed its pre-Series A funding of two million dollars led by Inflection Point Ventures along with LetsVenture, AngelList India, and angels from the industry. Almo intends to bolster its branding and marketing efforts along with setting up its research and development (R&D) lab to continue innovating on sustainable product lines.
According to Abhishek Shah, co-founder and CEO, Almo’s vision is to be the one-stop essentials’ destination for the evolved man, led by product innovation and customer obsession. “We look forward to the partnership with IPV in this journey, and we are just getting started. We have always followed a lean approach to scale with positive unit metrics, 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,” he added.
For Mitesh Shah, co-founder, Inflection Point Ventures, 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,” Shah stated.
Launched in June 2020 by Abhishek Shah, Muskaan Jain and Chhavi Bhardwaj, Almo is a D2C brand in the men’s premium essential wear space. The brand offers a range spanning underwear, topwear, loungewear and winter wear.