New Delhi: Homegrown watch brand Argos Watches has raised Rs 6.5 crore in an angel funding round at a valuation of Rs 45 crore, backed by a group of high-net-worth individuals (HNIs).
Founded in 2022, the company has generated a revenue of Rs 25.64 crore (~$3 million) in FY 2024-25. Now, it plans on doubling its revenue in this fiscal year, on the back of rising demand for premium mechanical timepieces in India, the company told ETRetail.
M. Channiwala, founder of the company, said, “This investment validates our vision to bring high-quality, precision-driven mechanical watches to Indian buyers. With the backing of experienced investors, we are well-positioned to scale operations and push the boundaries of Indian watchmaking.”
Currently, the brand follows a direct-to-consumer (D2C) model, selling exclusively through its website to maintain quality control and customer exclusivity. The newly raised capital will be used for product development, brand awareness, and digital expansion, the company said.
As part of its expansion strategy, Argos Watches has launched Olympus, India’s first mechanical watch with a power reserve indicator priced between Rs 8,000 and Rs 20,000.
