MyDesignation Raises Rs 40 Cr in Series A Led by RPSG Capital Ventures
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MyDesignation has secured Rs 40 crore in a Series A round led by RPSG Capital Ventures, with participation from existing investors Veltis Capital, Multiply Ventures and Dominor Investments. Veltis Capital increased its equity stake as part of the round.
The company said the funds will be deployed to scale its offline retail footprint, build out its senior leadership team and launch new product categories as it enters its next phase of growth.
“This Series A fundraise marks an important milestone in our journey. The capital will enable us to scale our offline presence through own outlets, invest in senior talent and expand into new categories while building a disciplined and sustainable growth trajectory. Over the past five years, we have focused on building a strong product foundation and a loyal customer base. This round gives us the ability to accelerate our omnichannel strategy while maintaining operational rigour,” Swaroop Krishnan, Co-Founder, MyDesignation, said.
Founded in 2020 by Swaroop Krishnan and Gopika B Raj, MyDesignation operates primarily through its own website and does not rely on third-party marketplaces. The brand currently runs five exclusive outlets across Bengaluru, Kochi, Thiruvananthapuram and Kozhikode, and plans to open eight additional stores over the next year in cities including Chennai, Hyderabad and Bengaluru.
The company employs around 100 people and is looking to strengthen functions such as finance, supply chain, merchandising and marketing to support expansion.
MyDesignation reports year-on-year revenue growth of about 100% since inception and has served close to one million customers across India. Repeat purchases account for a significant portion of sales, and product return rates are below 5%, according to the company.
The brand releases limited collections built around defined themes rather than large volumes of trend-based styles, positioning itself as a design-led direct-to-consumer apparel business with a growing omnichannel presence.
