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The Pant Project Raises $4.25 Million in Series A Funding to Boost Growth and Expansion

The Pant Project raises $4.25M to expand custom and ready-to-wear pants, enhancing India's fashion landscape
June 20, 2024

The Pant Project, a direct-to-consumer fashion brand specializing in custom-made and ready-to-wear pants, has successfully raised $4.25 million in its Series A funding round. This marks the brand's first institutional funding, led by Sorin Investments, a venture capital fund founded by former KKR India CEO Sanjay Nayar. The fund recently closed at Rs 1,350 crore.

Additional investors in this round include MGA Ventures, Huddle, Dexter Ventures, Indian Silicon Valley, and notable angel investors such as Arjun Vaidya, Avni Biyani, Nikhil Bhandarkar, and Vijay Taparia. Dexter Capital Advisors acted as the exclusive financial advisor for this transaction.

Founded in 2020 by Dhruv Toshniwal and Udit Toshniwal, The Pant Project started as a digitally-native brand aiming to provide custom-made pants tailored to all Indian body sizes. In 2023, the company expanded into ready-to-wear pants and adopted an omnichannel strategy. Their products, known for exceptional comfort, flexibility, and style, include a variety of options for both men and women, such as formals, chinos, jeans, cargos, joggers, power stretch knit pants, luxury linens, and wools.

Dhruv and Udit bring a rich legacy to the brand, coming from the family behind Banswara Syntex, a listed textile manufacturing company with a 50-year history.

Commenting on the funding, Co-founder Dhruv Toshniwal said, “After being bootstrapped for the past four years, this funding round will significantly propel our next phase of growth. Our deep understanding of the apparel supply chain, coupled with access to the best global quality fabrics, positions us uniquely in the market. We plan to leverage this investment to expand our team, enhance our tech capabilities, increase brand awareness, and grow our retail presence.”

Since its inception, The Pant Project has served over 100,000 customers. With the new funding, the company aims to open more brick-and-mortar stores across India and expand its offerings to include more casual and athleisure options. The goal is to surpass Rs 100 crore in revenue within the next 18-24 months.

Mandar Dandekar, Partner at Sorin Investments, expressed enthusiasm about the partnership, stating, “The Pant Project has established a strong brand in the bottom wear segment, demonstrated by deep customer loyalty and repeat business. We are excited to support Dhruv and Udit, who possess a deep understanding of men’s fashion and supply chain dynamics. Their innovative approach is evident in their high-performance fabrics that offer superior fit and comfort. Sorin is committed to adding value through our network and experience in D2C brands.”

Co-founder Udit Toshniwal emphasized the brand's philosophy, saying, “We believe in simplifying wardrobes to simplify lives, allowing people to focus on what truly matters. Our mission is to offer the most comfortable pants for every occasion.”

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