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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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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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Juice shop chain The Fresh Press raises funds from Gruhas Collective Consumer Fund
Economic Times
·
1y ago
Medial
Cold-pressed juice maker The Fresh Press has secured an undisclosed amount of equity funding from Gruhas Collective Consumer Fund (GCCF), backed by Nikhil Kamath. The Fresh Press, founded in 2018, operates approximately 40 outlets in nine cities across India. The funding will be used to expand the number of stores to 150, primarily through shop-in-shop setups. The company aims to increase revenue from Rs 3.5 crore in FY23 to Rs 15 crore in FY25. The Fresh Press has reported a store-level EBITDA margin of 15% and offers a range of fruit juices, milkshakes, and smoothies.
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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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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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Nexus Venture, Gruhas invest early-stage funds in two startups
VCCircle
·
1y ago
Medial
Specialty coffee chain abCoffee and innerwear brand Bummer have secured early-stage funding from Nexus Venture Partners and Gruhas Collective Consumer Fund, respectively. abCoffee raised $3.4 million in a Series A funding round, which will be used to enhance its supply chain and technology. Bummer raised $1.1 million in a pre-Series A funding round, which will aid its expansion into tier II and III cities and hiring talent. AbCoffee offers affordable brewed coffees sourced from Chikkamagaluru farms, while Bummer specializes in eco-conscious innerwear made from micromodal fiber.
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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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Exclusive: DaMENSCH raises fresh capital from existing investors at flat valuation
Entrackr
·
1y ago
Medial
D2C men’s lifestyle brand DaMENSCH has raised Rs 21.62 crore (approximately $2.5 million) in its extended Series B round from existing investors. The fresh investment, which came after a gap of two years, appears to be a bridge round for the Bengaluru-based company. The board at DaMENSCH has passed a special resolution to issue 1,017 shares at an issue price of Rs 2,12,515 each to raise Rs 21.6 crore, its regulatory filing accessed from the Registrar of Companies shows. Existing investors including Matrix Partners, Saama Capital, Whiteboard Capital, and A91 Emerging Fund also participated during the round. The bridge round has flown in at a flat valuation. As per TheKredible estimates, it has been valued at around $70-75 million (post-money). DaMENSCH has raised over $25 million to date including its $16.6 million Series B round led by A91 Partners in February 2022. According to the startup data intelligence platform TheKredible, A91 Partners is the largest external stakeholder followed by Matrix and Saama Capital. Started in 2018 by Anurag Saboo and Gaurav Pushkar, DaMENSCH offers a range of innerwear and casual wear. It leverages its own website and marketplaces such as Amazon, Flipkart, and Myntra for distribution. While the company is yet to file its financial statements for FY24, DaMENSCH’s revenue grew 22.7% year-on-year to Rs 77.57 crore in FY23. Unlike its scale, the firm’s losses surged twofold to Rs 62.34 crore in the fiscal year ending March 2023. DaMENSCH directly competes with Bummer which secured Rs 9.25 crore from Gruhas Collective Consumer Fund in March. XYXX seems to be the most funded player in the space as it raised over $36 million to date including $13.5 million from Amazon Sambhav Fund in May last year.
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Content-commerce platform Lehlah raises Rs 12.5 Cr in seed round
Entrackr
·
4m ago
Medial
Lehlah, a content-commerce platform that helps influencers earn money by recommending products, has raised Rs 12.5 crore ($1.46 million) in seed round led by Gruhas, an investment firm co-founded by Nikhil Kamath of Zerodha and Abhijeet Pai of Puzzolana Group. The proceeds will be used to introduce more features, grow its team, and strengthen its position in India’s booming influencer-led shopping space. Founded in December 2022 by Ashna Ruia, daughter of Essar Group director Prashant Ruia, Lehlah partners with major e-commerce platforms like Myntra, Meesho, Flipkart, and Nykaa, along with D2C brands such as Libas and Foxtale. The platform, which initially focused on fashion and beauty, is now expanding into home accessories and gadgets. The brand operates with a 50-member team, with its marketing division in Mumbai and the tech team in Bengaluru. Lehlah follows a commission-based model where brands pay the platform when sales happen through influencers. Influencers using Lehlah currently earn between Rs 50,000 and Rs 1,00,000 per month, showing the platform’s potential to create sustainable income for creators.
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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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