Amazon Smbhav Venture Fund led a new fundraising round of Rs 110 crore ($13.5 million) for the men’s knickers and lifestyle brand XYXX. The round also included participation from pre-existing institutional investors such as Sauce.vc, Anicut Capital, DSG Consumer Partners, and Singularity Growth Opportunities Fund.
Yogesh Kabra, founder of XYXX, stated that the company has experienced quick growth since its founding in 2016. “We plan to use the investment to keep doing more of the same, focusing on our core product categories and driving efficiency and profitability through greater scale and better use of technology.” “Our immediate focus is on increasing, both in scale and scope, to maintain our present high growth trajectory. As we progress farther within, general trade will continue to be our most significant sales channel. he continued, “Existing markets.
Singularity Opportunities Growth Fund sponsored a fundraising round in which XYXX raised Rs 90 crore (about $11 million) in August of last year.