STARTUP-STORIES

Technosport Secures $25 Million Investment Boost from A91 Partners for Sports Apparel Expansion

SUMMARY

Bengaluru-based Techno Sportswear has raised $25 million (about Rs 208 crore) from A91 Partners in its first fundraising round, which will be used to enhance product development, regulatory compliance, and expand its team with new hires.

Under the leadership of Sunil Jhunjhunwala, Techno Sportswear, which began in 2007, has grown significantly, establishing a modern factory in Tiruppur, Tamil Nadu, and launching its Technosport brand in South Africa and the UAE. The company produces 12 million garments annually and plans to use the new investment to strengthen its global presence and product offerings.

Bengaluru-headquartered Techno Sportswear has secured $25 million (about Rs 208 crore) from investment fund A91 Partners, marking its first fundraising round. The company, known for its Technosport brand of performance wear, began in 2007 with just five employees and has since expanded significantly. It established a modern factory in Tiruppur, Tamil Nadu, five years ago, a strategic move that leveraged the region’s textile expertise to boost production capacity and maintain quality.

Under promoter Sunil Jhunjhunwala’s leadership, Techno Sportswear launched the Technosport brand in South Africa and the UAE in 2020-21, marking its entry into international markets. The recent investment, advised by Advay Capital Advisors, will be used to enhance product development, regulatory compliance, and hire software developers, designers, and engineers to drive innovation.

A91 Partners, founded by former Sequoia Capital India partners Abhay Pandey, VT Bharadwaj, and Gautam Mago, focuses on technology, consumer, and financial services sectors. Their investment underscores the potential they see in Techno Sportswear’s growth trajectory. The company, employing over 500 people, produces 12 million garments annually, demonstrating its robust manufacturing capabilities.

Techno Sportswear’s business model centers on providing high-quality, affordable performance wear. The recent funding will support its plans to expand its product range, enhance its manufacturing capabilities, and enter new markets. The company’s commitment to sustainability, using eco-friendly materials and processes, appeals to environmentally conscious consumers and meets regulatory requirements.

With this investment, Techno Sportswear is poised for significant growth, aiming to strengthen its global presence and continue its focus on innovation and quality. The backing from A91 Partners not only provides financial resources but also brings valuable expertise, positioning Techno Sportswear for continued success in the competitive performance wear market.