Haldèn secures Rs 5 crore seed funding led by Prajay Advisors

Haldèn, a Mumbai-based luxury men's brand which was founded in 2019 by cousins & co-founders Anuj Beriwal (33) & Mukund Singhal (29), has raised 5 crore seed funding led by Prajay Advisors, a prominent family office based in Mumbai, the company said in a press note today, August 12.

The startyp claims to have served over one lakh customers from Tier 1 and Tier 2 cities.

Halden plans to use the fresh funding to expand its product range. The brand aims to provide access to premium luxury products at an affordable price.

"Both Mukund & Anuj have a profound understanding of the modern man's requirements, blending exceptional design with superior materials to ensure optimal fit and comfort. We are confident in India’s burgeoning economy and the increasing disposable income among young Indians. The Haldèn team has shown remarkable adaptability to evolving consumer behaviors and needs," said  Prakash Mody of Prajay Advisors.

With this partnership, HALDÈN is poised to become a dominant player in the e-commerce and leather product industry. The funds will be instrumental in Haldèn treading on its path to redefine the luxury market in India, making high-quality, affordable luxury products accessible to a broader audience, the company said.

Commenting on the fundraising, Mukund Singhal, said, “The fundraising will be strategically used to expand Haldèn’s offline presence too. The goal is to enhance brand visibility, increase sales, and penetrate new online & retail markets.”. He also added The brand looks forward to achieving significant milestones in the coming year and continuing to deliver excellence to its customers."

Anuj Beriwal commented, “We are thrilled with the support and confidence shown by Prajay Advisors. This funding will enable us to expand our product line and enhance our brand presence. Our goal is to make luxury products accessible to a wider audience while maintaining the quality and affordability that our customers expect.”