Delhi-based online clothing brand Henry & Smith has secured around ₹7 crores ($1 million) in seed funding from WEH Ventures, Rukam Capital, and an angel investment platform LetsVenture, as reported by YourStory. The funds raised will be used to expand the company’s distribution and hire more individuals to the team.
Nikhil Goyal, Co-founder, Henry & Smith, said, “We noticed that most men struggle with online shopping, especially for bottomwear and they take over 15 days, browsing through numerous websites, buying, and returning items before they find one that they love. We wanted to change that and launched our brand, which has very limited options while ensuring a high fit-rate of over 93 percent; all, at an incredibly reasonable price. This is why customers come to us again and again.”
Founded by Gaurisha Gupta and Nikhil Goyal in 2017, Henry & Smith is a men’s clothing brand looking to simply decision making involved in lifestyle choices. So far, the brand boasts of serving 75,000 customers directly through their website. With an average order size of 2,700, the startup has grown its revenues fivefold since March 2019.
Earlier this year, it was reported that LetsVenture helped health tech startup Meddu raise $3 million in pre-Series A funding. This year alone, LetsVenture has invested in numerous early-stage startups like cybersecurity solutions provider Kratikal, coworking startup myHQ and health tech startup PhableCare, among many others.
WEH Ventures’ portfolio includes startups like visual blogging platform Trell, fintech startup Infino and low-calorie ice-cream brand Noto, among many others.