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Exclusive: Nikhil Kamath-backed Gruhas invests in Shark Tank fame Bummer

EntrackrEntrackr · 1y ago
Exclusive: Nikhil Kamath-backed Gruhas invests in Shark Tank fame Bummer
Medial

Shark Tank fame direct-to-consumer (D2C) innerwear brand Bummer has raised Rs 9.25 crore led by Gruhas Consumer Fund along with the participation of Fluid Ventures Fund. The board at Bummer has passed a special resolution to issue 2,16,121 pre-series A1 CCPS at an issue price of Rs 428 each to raise Rs 9.25 crore, its regulatory filing sourced from the RoC shows. Gruhas Consumer Fund pumped in Rs 8 Cr while Fluid Ventures Fund participated with Rs 1.25 crore in the new round. Gurhas is a venture capital fund co-founded by Nikhil Kamath and Abhijeet Pai. The company will use the proceeds to expand and develop its categories, according to the filings. Founded in 2019, Bummer sells comfort wear and innerwear for both men and women. The company claims that its products use 47% less water for manufacturing and reduce carbon footprint by 18%. Following the fresh proceeds, Gruhas became the largest stakeholder with 17.3%, followed by Beenext Asia, Fluid Ventures, and Thapar Vision LLP. Its founder and CEO Sulay Lavsi along with his family command 45.97% of the company. As per TheKredible’s estimates, the company has been valued at around Rs 46.5 crore or $5.6 million post-allotment. Before this, Bummer had raised 180K from Singapore’s Beenext and Rs 75 lakh on TV show Shark Tank India led by Aman Gupta, co-founder and CMO of boAt and Namita Thapar, CEO of Emcure Pharmaceuticals. During the previous fiscal year that ended March 2023, Bummer’s revenue from operations surged three-fold to Rs 7.83 crore while the losses of the firm spiked 2.8X to Rs 2.94 crore in the same period.

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Nikhil Kamath-backed Gruhas picks up 5% stake in The Quorum Club

EntrackrEntrackr · 1y ago
Nikhil Kamath-backed Gruhas picks up 5% stake in The Quorum Club
Medial

Lifestyle hospitality platform The Quorum Club has raised an undisclosed amount of investment in a pre-series A round led by Gruhas. Gruhas is an early stage investment firm floated by Zerodha’s co-founder Nikhil Kamath and Puzzolana’s Abhijeet Pai. Gruhas has acquired a 5% stake in the Gurugram-based company. The Quorum Club plans to allocate the funds towards expansion, make forays into different territories across India, it said in a press-release. Co-founded in 2018 by Vivek Narain and Sonya Jehan, Quorum Club is a lifestyle hospitality brand which runs three brands: The Quorum, district 150 and The Business Quarter. The company has gained ground in the corporate, startups and investors space with its The Quorum branch in One Horizon Centre (Gurugram). According to the firm, it has announced its third club back in 2022 and integrates lifestyle into the work routine. The platform claims that it is expanding its co-working portfolio, under the brand name – The Business Quarter (TBQ), which are hospitality-powered spaces that are being co-located to its clubs. Quorum Club also says that The Quorum Hyderabad will feature a 110-seat premium co-working facility and its Mumbai branch is being stretched to 451 seats. Gruhas deals in equity and debt investments across segments including proptech, cleantech, media and entertainment sectors. The firm co-led its maiden investment worth Rs 9.25 crore in Shark Tank famed direct-to-consumer (D2C) innerwear brand Bummer. The fundraise was exclusively reported by Entrackr on March 8.

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