MyDesignation Bags $1.25 Million Seed Funding to Fuel Expansion
MyDesignation, a vibrant direct-to-consumer (D2C) fashion and lifestyle brand rooted in expressive design, today announced the successful closure of its ₹10.7 Crores ($1.25 million) seed funding round. The investment was spearheaded by Multiply Ventures and saw participation from Veltis Capital, Sattva Ventures, Dominor Investment Holdings, and Green Trunk Ventures.
The newly secured capital will be strategically deployed by the Kerala-based startup to accelerate key growth areas, including talent acquisition, technological advancements, expansion into physical retail spaces, and entry into new geographical markets.
Founded in 2020 by the entrepreneurial husband-wife duo, Swaroop Krishnan and Gopika B Raj, MyDesignation has demonstrated impressive organic growth and consistent profitability since its inception. The brand has cultivated a strong and loyal customer base exceeding 500,000 consumers, boasting an impressive 35% monthly repeat purchase rate. With the fresh funding, MyDesignation aims to double its user base within the next year.
A core element of MyDesignation’s strategy involves a customer-centric approach to product development, heavily influenced by its thriving online community of over 400,000 Instagram followers. This active engagement positions MyDesignation as a truly customer co-created brand.
Swaroop Krishnan, Co-founder & CEO, expressed his enthusiasm, stating, “Having achieved consistent 100% year-on-year growth while maintaining profitability for four years, this fundraise will empower us to target 200% growth without compromising our financial discipline or the exceptional experience our customers have come to expect. Our immediate focus includes bolstering our tech capabilities, expanding our offline presence, and bringing on board passionate talent who align with our mission. We are incredibly grateful to our investors for believing in our vision of a fashion landscape where creativity and commercial viability go hand in hand.”
Gopika B Raj, Co-founder & CCO, highlighted the brand’s unique approach, “Our deliberate choice to avoid reliance on third-party platforms has given us complete control over the customer journey, enabling us to deliver a superior brand experience in the fashion sector. This D2C model keeps us intimately connected with customer sentiment and feedback, directly influencing our product design and communication strategies. At MyDesignation, we believe fashion is a powerful form of self-expression, and we are committed to empowering every individual to voice their identity.” She further added, “This funding is more than just capital; it’s a validation of the fashion movement we are building, starting from Kerala and reaching out to the world.”
Sanjay Ramakrishnan, Founding Partner at Multiply Ventures, commented on MyDesignation’s journey, “The team’s remarkable bootstrapping journey over the past four years to achieve their current standing is a testament to their grit, clear vision, and highly focused execution. Swaroop and Gopika have demonstrated exceptional financial prudence, a profound understanding of their customer base, and a strong brand-first philosophy.”
Gokul Gopal, Founding Partner at Veltis Capital, echoed this sentiment, stating, “MyDesignation’s deep connection with its customers and its unwavering customer focus are truly outstanding. Their current momentum is undeniable. They have successfully built a lifestyle-led community that actively participates in shaping the brand’s future, moving beyond simple transactions. Their ability to maintain high customer satisfaction while scaling profitably is a rare and commendable feat in today’s D2C landscape.”