The Pant Project raises INR1.09 billion Series B to expand its stores
Mirae Asset Venture Investments (India) leads equity funding for the Indian menswear brand.
The Pant Project has raised INR1.09 billion in Series B equity led by Mirae Asset Venture Investments (India). Sorin Investments, Hyperscale Ventures, B&K Securities, MGA Ventures and B2V Ventures also participated, according to the company announcement reported by Entrackr on October 19.
The menswear brand plans to expand from 25 exclusive stores to more than 150 over the next two to three years. Capital will also support adjacent categories, including jeans, athleisure and casualwear, and strengthen sales across its website, marketplaces and stores.
Founded by brothers Dhruv and Udit Toshniwal, the business started online with bottomwear for Indian men. Stores let customers assess fabrics and fit in person. Alongside the equity financing, it secured venture debt from Alteria Capital; that amount was undisclosed and is separate from the Series B total.
Use of funds
Expand offline retail network
Develop adjacent menswear categories
Strengthen omnichannel distribution