Jaipur-based D2C e-commerce platform Aramya by DSLR Technologies is in the process of raising ₹18.96 crore ($2.24 million) in a pre-Series A funding round, as reported exclusively by Entrackr.
This round is led by existing investors Z47 (formerly Matrix Partners India) and Accel India, who had previously backed the company during its seed round.
The funding will be allocated towards capital expenditure, marketing initiatives, and general corporate purposes.
According to regulatory filings with the Registrar of Companies, the company’s board has approved the issuance of 8,530 cumulative preference shares at ₹22,224 each to facilitate the fundraising.
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About DSLR Technologies
Founded by Ankush Goyal, DSLR Technologies operates Aramya, a D2C ethnic wear brand for women.
Aramya is known for blending traditional hand-printed designs such as block prints, bandhani, and ajrakh with premium fabrics like pure cotton and linen cotton.
Following this funding round, DSLR Technologies’ valuation is expected to increase to ₹381 crore ($45.3 million), representing an 80% rise from its $25 million valuation during the seed round.
While the round is ongoing, the company may secure additional investments, potentially impacting its valuation and shareholding structure. Post this round, Matrix and Accel are expected to hold a 14.78% stake in the company.
DSLR Technologies had previously raised $7 million in its seed round, also led by Matrix and Accel.
While financials for FY24 have yet to be disclosed, the company reported ₹2.66 crore in total revenue for FY23, with ₹41 lakh generated from operations and a net loss of ₹10 crore.
