DSLR Technologies, the parent company of the D2C ethnic wear brand Aramya, has raised ₹18.96 crore ($2.24 million) in a pre-Series A funding round.
The investment comes from existing backers Z47 (formerly Matrix Partners India) and Accel India, solidifying their confidence in the company’s growth potential.
Regulatory filings indicate that DSLR Technologies issued 8,530 cumulative preference shares at ₹22,224 per share, securing the capital needed to fuel its next phase of development. The funds will be channeled toward enhancing capital expenditure, scaling marketing efforts, and supporting general corporate initiatives.
Founded by Ankush Goyal, Aramya is a Jaipur-based D2C brand that specializes in premium ethnic wear for women. The brand is known for integrating traditional art forms such as block printing, bandhani, and ajrakh with high-quality fabrics like pure cotton and linen blends. Aramya’s approach has garnered attention in the competitive D2C fashion market by appealing to customers seeking authenticity and elegance.
Following the latest funding, Aramya’s valuation is expected to rise significantly, reaching approximately ₹381 crore ($45.3 million). This marks an impressive 80% jump from its previous valuation of $25 million during the seed round. With Z47 and Accel now holding a combined 14.78% stake, the company is positioning itself for further growth, with indications that additional funding may be on the horizon.
Aramya had previously raised $7 million in a seed round led by Matrix Partners and Accel. Despite reporting a net loss of ₹10 crore in FY23 against a total revenue of ₹2.66 crore, the brand has demonstrated strong growth potential, as reflected in its increasing valuation.
The D2C sector, particularly in ethnic and fast fashion, has seen a surge in investor interest this year. Brands like Newme and Libas have secured $18 million each, while last year saw French Crown attract funding from Velocity. Aramya’s latest funding positions it well to compete in this dynamic market.
With fresh capital at its disposal, Aramya aims to bolster its market presence and refine its offerings. By investing in strategic areas like marketing and infrastructure, the brand is poised to strengthen its appeal to a broader audience. The support of seasoned investors like Z47 and Accel further underscores the potential of this rising D2C star in the ethnic wear segment.
As the demand for direct-to-consumer brands grows, Aramya’s focus on quality, tradition, and innovation positions it as a strong contender in India’s evolving fashion landscape
