D’Moksha raises $575,000 from Venture Catalysts, others
Summary
The brand plans to use the funds to strengthen its presence in the domestic and international markets along with the diversification of its product range. Commenting on the investment, Apoorva Ranjan Sharma in a statement said:DMoksha Homes has been successfully serving over 20,000 customers across the U.S., Canada, and Mexico, with 20 percent of them claiming repeat purchase. The brand has been generating profits within a few months of launch since October 2020, with almost 80 percent gross margins, which is commendable. This funding will give them more firepower to scale their market presence globally and build an Indian brand for the world.Manav Dhanda, co-founder of DMoksha Homes, added: The industry in India has mostly focused on job work for international brands, but we intend to hone Indias strength in textiles and artisans to build a Global Indian Home Fashion Brand. Founded by Mumbai-based husband-wife duo Nimisha and Manav Dhanda in 2020, DMoksha Homes is a digital-first D2C brand that produces handcrafted home linens using sustainable fabrics.