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Exclusive: Nikhil Kamath-backed Gruhas invests in Shark Tank fame Bummer
Entrackr
·
1y ago
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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Related News
D2C apparel firm Bummer raises Rs 9.25 crore led by Nikhil Kamath-backed Gruhas Collective
Economic Times
·
1y ago
Medial
Direct-to-consumer apparel firm Bummer has raised INR 9.25 crore in a funding round led by Gruhas Collective Consumer Fund, backed by Zerodha co-founder Nikhil Kamath. The funding will be used for marketing, expanding distribution, and team expansion. Bummer aims to disrupt the men's underwear category and capture the Gen-Z market with its innovative approach, quality products, and new-age design. The company derives most of its revenue from its own website and plans to expand its distribution to 100 stores next year. It aims to generate half of its revenues from non-metro cities in the future.
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D2C apparel startup Bummer raises Rs 9.25 crore led by Nikhil Kamath's Gruhas Collective
IndianStartupNews
·
1y ago
Medial
Indian D2C innerwear startup Bummer has raised INR 9.25 crore ($1.1 million) in a pre-Series A1 funding round led by Gruhas Collective Consumer Fund, co-founded by Zerodha's Nikhil Kamath. The funds will be used to expand the brand's omnichannel presence, with a focus on targeting Tier-II, III, and IV cities in India. Bummer, known for its sustainable and innovative approach to innerwear, plans to launch its products in other Asian markets within the next two years. The investment reflects the growing D2C market in India, which is expected to reach $100 billion by 2025.
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Nikhil Kamath’s Gruhas invests in Weavings Manpower Solutions
Inshorts
·
11m ago
Medial
Nikhil Kamath-founded Gruhas has made a strategic investment in Weavings Manpower Solutions, a company providing staffing and workforce solutions in the Indian market. With this investment, the company will focus on enhancing its technology platform, expanding into new geographies, and introducing specialized staffing solutions across various industry sectors.
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Nikhil Kamath-backed Gruhas picks up 5% stake in The Quorum Club
Entrackr
·
1y ago
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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'Yeh sab doglapan hai' was brutally used on him: Namita on pic with Bummer Founder
Inshorts
·
2y ago
Medial
Namita Thapar, in an Instagram post, shared a photo with Sulay Lavsi, the founder of Bummer, and highlighted his resilience. Thapar mentioned that Lavsi faced harsh criticism with the phrase "'Yeh sab doglapan hai'" but remained composed and self-assured. Thapar also revealed that Bummer had annual sales of ₹60 lakh when Lavsi appeared on Shark Tank India season one, and by the end of FY23, the company's sales had increased to ₹11 crore.
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Zerodha’s Nikhil Kamath invests in finfluencer Sharan Hegde's start-up The 1% Club
Business Today
·
1y ago
Medial
Zerodha's Chief Investment Officer, Nikhil Kamath, has invested in 'The 1% Club', a start-up founded by finfluencer Sharan Hegde. The start-up has secured Rs 10 crore in pre-series A funding, with investment from Gruhas, a venture capital firm co-founded by Kamath. The 1% Club is a members-only platform that offers educational resources, mentorship, and entrepreneurial opportunities for individuals to plan their financial future. The funds raised will be used to expand operations and attract talent. The start-up aims to combine fintech and edtech to empower individuals in making informed financial decisions.
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Zerodha cofounder Nikhil Kamath invests in Collective Artists Network
Economic Times
·
1y ago
Medial
Nikhil Kamath, the co-founder of Zerodha, has made an investment in talent management agency Collective Artists Network (CAN). The investment, which is a secondary transaction, provides a return of over 5 times for Glance, a subsidiary of InMobi, which had previously invested in Collective. The financial details of the deal were not disclosed. Collective Artists Network offers a range of solutions including talent management, influencer marketing, and consulting. Earlier in 2024, CAN collaborated with Kamath's investment vehicle Gruhas to launch a consumer fund aimed at supporting consumer-focused enterprises.
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Zerodha's Rainmatter Capital, Gruhas, others invests in Age Care Labs
IndianStartupNews
·
1y ago
Medial
Age Care Labs, an elder care platform, has raised $11 million in a pre-Series B funding round. The investment was led by Rainmatter Capital, the investment arm of Zerodha, and Gruhas, a venture capital fund co-founded by Nikhil Kamath and Abhijeet Pai. The funds will be used to expand the platform's presence in India and explore potential mergers and acquisitions. Age Care Labs aims to address the diverse needs of the aging population through its businesses, Emoha and Epoch, which focus on elder health at home and asset-light care homes respectively.
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Nikhil Kamath's Gruhas, others invests in Hospitality startup Quorum Club
IndianStartupNews
·
1y ago
Medial
Gruhas, a firm co-founded by Nikhil Kamath and Abhijeet Pai, has led a pre-Series A funding round for lifestyle hospitality brand Quorum Club. The investment amount has not been disclosed. Quorum Club, a subscription-based members-only hospitality brand, plans to expand across India, targeting cities like Bengaluru, Goa, and Delhi. The brand aims to diversify its membership base, which currently stands at around 2,800, and has seen significant financial growth in recent years. Other shareholders participating in the funding round include Alok Oberoi, Sabre Advisors, and Sattva Group.
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Authum, Nikhil Kamath’s Gruhas hop on electric bus maker PMI Electro
VCCircle
·
5m ago
Medial
Authum Investment & Infrastructure Ltd and Gruhas, backed by Nikhil Kamath, have invested Rs 250 crore in PMI Electro Mobility Solutions, an electric bus manufacturer. This marks PMI's second major funding, after a similar investment from Piramal Fund in 2023. The funds will be used for technological advancements and scaling operations. With a strong order book of over 3,000 buses, PMI aims to significantly expand its fleet to over 5,000 buses within two years.
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