D’Moksha Homes Raises $575K In Seed Round
Summary
Venture Catalysts, Indias first and largest integrated incubator and accelerator, has announced its investment in DMoksha Homes, a direct-to-consumer environment-friendly home fashion brand focused on providing exquisite, handcrafted home linens using only the most sustainable fabrics like linen, hemp, and lyocell, amongst others.The angel seed round of $575000 reflects an envious list of investors led Dr. Apoorva Sharma, co-founder of Venture Catalysts, The Chennai Angels, Karthik Bhat (Founder Force Ventures) along with some extremely reputed investors who are founders of leading D2C brands, partners in large VC firms, serial investors and leading corporate executives. This includes Varun Alagh (Founder- Mama Earth), Aman Gupta and Sameer Mehta (Founders- BoAt), Bala Sarda (Founder- Vahdam Teas), Virendra Gupta (Founder- DailyHunt), Vivekananda Hallekere (Founder- Bounce), Kushal Khandwala (Serial investor and Director-KIFS Housing Finance Limited), Sanjay Behl (Ex-CEO Raymond), C.K.Ranganathan (Founder CavinKare), Satish Kumar Anavangot (Former India MD- Henkel), Badri Pillapakkam (Partner Omidyar Network), Kushal Agarwal (Partner- Lightrock ventures), Tejas Subramanian (Director Telama investments) among others.Founded by Mumbai-based husband-wife duo Nimisha and Manav Dhanda, DMoksha Homes is committed to spreading delight with responsible eco-conscious home fashion. Yet despite the business challenges, DMoksha Homes has displayed extraordinary growth thereon and now intends to create depth in its product offerings, expand to other critical marketplaces in addition to its own domain.Commenting on the infusion of funds, Manav Dhanda, Cofounder of DMoksha Homes said, With all industries pivoting rapidly to cater to the global megatrend of environmentally conscious consumers, the textile industry has done far too little for far too long. We thank our Angels for further fueling our customer obsession and partnering with the greater purpose of the brand.Sharing his insights, Dr Apoorva Ranjan Sharma, President and Co-founder, Venture Catalysts, said, The global home textile madeups market is worth $120 billion DMoksha Homes has been successfully serving over 20000+ delighted customers across US, Canada and Mexico with 20% of them claiming repeat purchase. Considering the business model is based on a natural eco-conscious home furnishing brand, the products have great potential not only in India but also across the world.Karthik Bhat, Founder of Force Ventures said "We at Force Ventures, are delighted to back Nimisha and Manav as they build a high quality and fast growing global aspirational brand at DMoksha, which combines a strong social conscience with best in class unit economics"Chandran Krishnan, CEO of The Chennai Angels said, "Using eco-friendly products not only improves the quality of life but ensures good health and well-being of households and the planet.