The Pant Project Secures $4.25 Million in Maiden Funding Round Led by Sorin Investments

The Pant Project, a fashion brand specializing in custom-made and ready-to-wear pants, has successfully raised $4.25 million in its first funding round. The round was led by Sorin Investments, an early-stage investment firm founded by former KKR India chief executive Sanjay Nayar. Other participants included MGA Ventures, Huddle, Dexter Ventures, and Indian Silicon Valley, along with angel investors such as Arjun Vaidya, founder of Dr Vaidya’s, and Avni Biyani, founder of Foodstories.

Expanding Horizons: Offline Retail and Technological Advancements

The funds raised will be channeled towards expanding offline retail stores, enhancing branding and marketing efforts, developing technology, and growing the team, according to Dhruv Toshniwal, cofounder at The Pant Project. Currently, the digital-native brand operates three physical stores—two in Mumbai and one in Bengaluru—and plans to open 25 to 30 more stores across India over the next three years.

Growing Customer Base and Revenue

A significant portion of the brand’s revenue, 65%, comes from its direct-to-consumer (D2C) website, which has served over 100,000 customers. Founded in 2020 by Dhruv and Udit Toshniwal, members of the Banswara Syntex family, The Pant Project initially focused on men’s pants and later expanded to women’s pants. The company now offers over 250 styles, including formal pants, chinos, jeans, cargos, joggers, power stretch knit pants, luxury linens, and wool pants.

The Pant Project has demonstrated impressive growth, achieving approximately Rs 31 crore in revenue last fiscal year as a bootstrapped company. The brand aims to surpass Rs 100 crore in revenue within the next 18-24 months.

Strategic Market Presence and Future Plans

The company’s revenue mix is healthy, with 60% coming from top-tier cities like Mumbai, Delhi, Bengaluru, Hyderabad, Chennai, Pune, and Ahmedabad, and the remaining 40% from tier II cities. The brand plans to open exclusive brand outlets (EBOs) in all major cities where it has a significant customer base.

Investor Confidence and Industry Trends

Mandar Dandekar, partner at Sorin Investments, expressed confidence in The Pant Project’s potential, highlighting the brand’s strong recall as a destination for bottom wear and its high-performance fabrics providing better fit and comfort.

The fashion industry has seen several startups securing funds in recent months. In May, men’s apparel brand Rare Rabbit was reported to be closing a Rs 500 crore funding round led by A91 Partners. In April, omnichannel fashion startup Lyskraft raised $26 million led by Peak XV Partners, and in March, direct-to-consumer apparel firm Bummer raised Rs 9.25 crore led by Gruhas’ Collective Consumer Fund.

The Pant Project’s successful funding round and ambitious expansion plans position it as a rising star in the fashion industry, ready to redefine the landscape of custom-made and ready-to-wear pants.