Sportswear Brand TechnoSport Lands INR 175 Cr Funding from A91 Partners The Bengaluru-based brand plans to use the fresh funding to enhance manufacturing capabilities, focus on digital brand building, and amplify marketing activities. The funds will also support the expansion of sales and distribution channels to reach a wider audience.
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TechnoSport announced the raising of INR 175 crore as its first external fundraising from A91 Partners.
The transaction's sole financial advisor was Advay Capital Advisors.
TechnoSport plans to use the fresh funding to enhance manufacturing capabilities, focus on digital brand building, and amplify marketing activities. The funds will also support the expansion of sales and distribution channels to reach a wider audience.
Puspen Maity, CEO of TechnoSport, said, "This infusion of capital marks a pivotal moment in our growth journey, enabling us to accelerate our expansion on multiple fronts. With this support, we are poised to scale our operations, enhance our product offerings, significantly increase our user base, drive brand building, and propel our digital acceleration efforts, ensuring we remain at the forefront of innovation in the sports technology industry."
Founded in around 2015 by Sunil Jhunjhunwala and Sumit Santhalia, TechnoSport offers high-performance apparel tailored for the Indian market at remarkably affordable prices.
The platform claims to have over 5,000 active retailers across 15 states.
"This infusion of funding will serve as a catalyst, empowering us to bolster our manufacturing infrastructure and amplify our digital brand presence. With this support, we are poised to extend our reach across borders, strengthening India's imprint on the global map and inspiring countless individuals worldwide to embrace an active lifestyle," added Sunil Jhunjhunwala, Co-founder and Managing Director at TechnoSport.
Sumit Santhalia, Co-founder and Director at TechnoSport, highlighted, "With plans to establish 100 exclusive brand outlets in the coming years, we are poised to expand our accessibility across the nation."
