Shark Tank Fame The Bear House Nets INR 50 Cr To Expand Offline Presence

D2C menswear brand The Bear House (TBH) has raised INR 50 Cr (around $5.8 Mn) in its Series A funding round led by JM Financial Group’s investment arm JM Financial Private Equity.

In a statement, the Bengaluru-based startup said it plans to deploy the funds to support offline expansion, working capital needs, and branding efforts. 

Founded in 2017 by husband-wife duo Harsh and Tanvi Somaiya, The Bear House sells premium casual workwear via its website and other ecommerce platforms. 

The startup has been positioning itself as an omnichannel player for some time. After launching its first physical store in Bengaluru earlier this month, it has set its sights on launching 20 more stores across the country within the next two years. 

The Bear House’s direct competitors – The Souled Store, Bewakoof, among others – have also been bullish on offline expansion for some time now. The Bear House’s USP is its minimalist, European-style collection.

The startup also featured on the fourth edition of TV show Shark Tank India, where it bagged an investment of INR 3 Cr Emcure Pharmaceuticals’ Namita Thapar in a deal that valued it at INR 100 Cr.

On the financial front, The Bear House saw its net profit zoom 9.3X to INR 11.2 Cr in FY24 from INR 1.2 Cr in the previous fiscal year. Operating revenue stood at INR 96.2 Cr, a jump of 79.5% from INR 53.6 Cr in FY23. 

EBITDA grew to INR 11.4 Cr in FY24 from INR 2.5 Cr in the previous fiscal year. EBITDA margin increased 7 percentage points to INR 12% from 5% in FY23. 

The startup was eyeing to surpass INR 250 Cr revenue mark in the recently ended FY25.

This comes as D2C brands in India have been getting traction lately amid rising disposable incomes and increasing digitisation. India’s D2C space is projected to become a $300 Bn market opportunity by 2030.