Direct-to-consumer fashion brand Outzidr has raised Rs 30 crore ($3.5 million) in a funding round led by Stellaris Venture Partners. Ramakant Sharma and Ghazal Alagh also participated in the funding round.
The brand plans to utilise the funds to strengthen its brand presence, technology development, brand-building efforts and inventory maintenance.
Founded by Nirmal Jain, Mani Kant Mani, and Justin Mario in 2024, the company aims to reach Rs 100 crore of annualised run rate in the next 6-8 months.
Commenting on the funding, Nirmal Jain, co-founder of Outzidr in a statement said, “At Outzidr, we’re combining technology, analytics, and a strong network of partners to build a scalable, quick-react fashion ecosystem. Further, the nature of this category gives us an opportunity to become a brand with global relevance in times to come.”
Mayank Jain, principal at Stellaris Venture Partners added, “An attractive market of affordable fashion for GenZ, along with the team’s unique and differentiated ‘test & quick react’ solution approach and a strong founder-market fit, form the three key pillars of our investment thesis. Nirmal, Mani and Justin, not only come from the domain but also bring a proven track record of achievement within it.”
Outzidr retails through its direct-to-consumer platform and leading e-commerce platforms like Myntra, Nykaa Fashion, Ajio among others.
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