Men’s Grooming Brand, Menhood Raises INR 2.35 Crores from Velocity

Bangalore, April 25, 2023: Dedicated men’s grooming brand Menhoodhas raised INR 2.35 Crores over multiple tranches from Velocity.in, India’s largest revenue-based financier.

Menhood was established on this absolute basis to fight the taboo and help educate men on grooming their privates using precision-grade products. It is common for many men to have never engaged in this practice or to have done so only sparingly. The lack of dialogue in our society regarding below-the-belt grooming may be responsible for this oversight.

This innovative Indian startup, situated in Jaipur, made a daring step forward in December 2020 by entering the ‘Below The Belt’ sector, becoming the first brand of its kind within India. Their signature product is an all-inclusive grooming kit specifically tailored to meet Indian men’s intimate needs. Despite being bootstrapped and operating on limited funds, they have created a thriving business with their products and made a name for themselves within their respective industry.

The co-founder of Menhood had a background in the digital space, content creation and drop shipping. They used their expertise to enter the grooming market. Drawing on their digital, content-creation, the founders forayed into the grooming sector and saw tremendous growth as educating men regarding intimate hygiene became a strong purpose for them.

The brand recently raised INR 2.35 Crores from Velocity to fuel its growth in India’s men’s grooming market, estimated to be worth over US$ 3.1 Billion by 2028. The new financing will help Menhood strengthen its position as the leading provider of male grooming services in India and beyond.

Dushyant Gandotra, Founder & CEO of Menhoodadded, “Velocity’s support has allowed Menhood to expand its product line and enter new markets. With this, Menhood is now ready to expand its product line and enter new markets. We have moved from being just a male grooming brand to a male fashion lifestyle brand, with the introduction of fragrances along with beard trimmers.”

Menhood has leveraged a mixture of paid advertisement and WhatsApp marketing to extend its reach, resulting in an extraordinary 15% repeat customer rate each month and a staggering 75% of customers opting for prepaid orders. Highlighting the success of this strategy, Menhood stands alone as one-of-a-kind with these impressive metrics.

To retain and attract new customers, Menhood took a strategic move and introduced interest-free EMIs for its products – enabling customers to purchase goods without feeling burdened by the financial implications. This strategy has successfully increased customer engagement and driven sales growth!

ShivamBhateja, Co-founder of Menhood, remarked that the funds from Velocity has assisted them with more budget for inventory and marketing. “This tactic paid off, resulting in earning INR 1.5 Crores within the first month! With every new round of funding, we have gained more ground and are now targeting expansions in prominent e-commerce platforms like Amazon, TataCliq, Nykaa, Myntra, and Flipkart, along with our website for an amplified presence of our brand.”

Speaking about the round of funding, Atul Khichariya, COO of Velocity said, “We are excited with this partnership. The company has a comprehensive range of high-quality grooming products designed specifically for men, aimed at breaking down the taboos surrounding men’s grooming. The brand’s mission is to help men maintain their hygiene through top-notch products while raising awareness about the importance of using men’s grooming products. Through this approach, the company is breaking down the barriers and educating men about the benefits of personal grooming. We have full confidence in the founders and their approach to addressing this cause for all men. With this funding, we expect that Menhood will be able to capitalize on new opportunities and achieve even greater success”
The success of Menhood is a shining example of how far a creative concept and determined team can take you. Though bootstrapped with limited industry experience, the founders managed to develop an influential brand name in India. As they ready themselves for further expansion and increased visibility, it will be thrilling to witness what comes next for Menhood.