The Pant Project has successfully raised $4.25 million in its Series-A funding round. This round was led by Sorin Investments, with participation from notable investors including MGA Ventures, Huddle, Dexter Ventures, Indian Silicon Valley, and prominent angels like Arjun Vaidya, Avni Biyani, Nikhil Bhandarkar, and Vijay Taparia.
A Promising Journey from Digital Native to Omnichannel Pioneer
Founded in 2020 by Dhruv Toshniwal and Udit Toshniwal, The Pant Project initially launched as a digitally native brand focused on providing custom-made pants for the diverse body sizes of Indian consumers. With a robust foundation rooted in a family legacy of textile manufacturing through Banswara Syntex, the Toshniwal brothers have leveraged their deep understanding of the apparel supply chain to offer high-quality, custom-fit pants. In 2023, the company transitioned to an omnichannel strategy, expanding its offerings to include ready-to-wear options and opening physical stores in Mumbai and Bangalore.
The Pant Project prides itself on a diverse range of over 250 styles, catering to both men and women. Their offerings span from formal trousers to chinos, jeans, cargos, joggers, power stretch knit pants, luxury linens, and wools. This variety ensures that there is something for every occasion and preference.
With the new funding, The Pant Project plans to enhance its retail footprint by opening new brick-and-mortar stores across India. Additionally, the brand aims to broaden its bottom wear range, introducing more casual and athleisure options to meet the evolving tastes of modern consumers. The company is poised to cross ₹100 crore in revenue over the next 18-24 months, driven by its expanded product lines and increased market presence.
Co-founder Dhruv Toshniwal highlighted the significance of this funding round, stating, “Having been bootstrapped for the past four years, our maiden funding round will be significant in propelling our next phase of growth as we aim to be India’s leading bottom wear brand with an omnichannel presence. Our biggest moat lies in our understanding of the apparel supply chain, with access to the best in global quality fabrics and designs for our customers. We have data on custom fit for over 100,000 Indian men and are using that to constantly improve. With this funding, we plan to grow our team, tech capabilities, brand awareness, and retail store presence.”
Investor Confidence and Market Potential
Mandar Dandekar, Partner at Sorin Investments, expressed confidence in The Pant Project’s potential, stating, “We are big believers in India’s consumption economy, and The Pant Project team has shown the ability to successfully cater to changing customer behavior and needs. Sorin intends to add value through its network, deep understanding, and experience in D2C brands.”
Sorin Investments, a venture capital fund founded by former KKR India CEO Sanjay Nayar, led the funding round, reflecting strong investor confidence in The Pant Project’s vision and growth trajectory. Dexter Capital Advisors acted as the exclusive financial advisor for this transaction, underscoring the strategic importance of this funding round.
Conclusion
With plans for aggressive expansion, innovative product offerings, and enhanced technological capabilities, The Pant Project is well-positioned to redefine the bottom wear segment and cater to the dynamic needs of Indian consumers. As the brand continues to grow and evolve, it will undoubtedly play a significant role in shaping the future of fashion in India.