The Pant Project Secures Rs 109 Crore in Series B Funding
Premium menswear brand The Pant Project has successfully raised Rs 109 crore in a Series B funding round led by Mirae Asset Venture Investments (India). The funding round also saw participation from existing investor Sorin Investments along with new investors including Hyperscale Ventures, B&K Securities, MGA Ventures, and B2V Ventures, as detailed in the company’s press release.
Expansion Plans for The Pant Project
The Pant Project aims to utilise the new capital to grow its offline retail footprint, introduce new product lines, and enhance its omnichannel capabilities. This brand was established by brothers Dhruv and Udit Toshniwal and initially launched as a digital-first entity concentrating on bottomwear for Indian men. Its range includes products such as Malai Pants and Inklock No Fade Black Jeans.
Retail Network Growth
The company currently operates 25 exclusive brand outlets across India with aspirations to expand this number to over 150 within the next two to three years. Additionally, The Pant Project is set to diversify into adjacent menswear categories such as jeans, athleisure, and casualwear.
Comments from Leadership
In relation to the fundraising, Dhruv Toshniwal, founder and CEO of The Pant Project, highlighted the brand’s intention to broaden its offline presence after developing its business as a digital-first model. He mentioned that the physical stores provide an opportunity for customers to directly experience the fabric and fit of the products, which aids in strengthening customer relationships.
Recent Funding History
This recent funding round follows the company’s previous $4.25 million Series A funding in 2024, led by Sorin Investments. Before this funding, The Pant Project had largely bootstrapped its operations.
Venture Debt Financing
In addition to the equity funding, The Pant Project has also secured venture debt financing from Alteria Capital, although the precise amount has not been disclosed. IndigoEdge served as the investment banker for this Series B transaction.
Future Growth in Menswear Market
The newly acquired funding will facilitate The Pant Project in scaling its retail network and expanding its product offerings as it aims to establish a dominant presence in the premium menswear market in India.