The Bear House raises Rs 50 crore in series A funding round led by JM Financial

The Bear House, a direct-to-consumer men’s apparel and accessories brand has raised Rs 50 crore ($5.8 million) in a series A funding round led by JM Financial India Growth Fund III.

The company will utilise the funds to expand its offline presence, support working capital requirements and marketing.

The Bear House had earlier secured an investment deal of Rs 3 crore on Shark Tank India at a valuation of Rs 100 crore.

Commenting on the funding, Harsh Somaiya, co-founder of The Bear House in a statement said, “This growth capital infusion and partnership with a fund like JM Financial India Growth Fund III will help us accelerate our expansion plans and strengthen our brand’s presence. As we scale our offline footprint and invest in brand-building, we remain focused on staying true to our design philosophy and deepening our connection with customers.”

Siddharth Kothari, managing director at JM Financial added, “The Bear House has demonstrated impressive growth by leveraging its unique design sensibilities and direct-to-consumer strategy to build a loyal customer following. With rising demand for high-quality, stylish menswear, we believe The Bear House is well-positioned to become a prominent menswear brand in the country.”

Founded in 2017 by Harsh and Tanvi Somaiya, The Bear House has a strong online presence with availability of Myntra, Flipkart, Ajio, Tata Cliq, Nykaa, and Amazon. The brand expects to cross Rs 140 crore in net revenue this year.