Today, TechnoSport, a performance wear brand in Bengaluru declared its first external fundraising of Rs. 175 crore from A91 Partners, an early growth equity fund. With a network straddling 15 states and over 5,000 dynamic retailer touchpoints, TechnoSport is set for further growth and market development.
Advay Capital Advisors served as the elite financial advisor on the fundraising transaction, providing precious guidance and support all through the process.
By the newly raised capital, TechnoSport plans to improve its manufacturing capabilities, concentrate on digital brand development, and boost marketing activities. The funding will also sustain the growth of TechnoSport’s sales and distribution channels to achieve a wider audience.
TechnoSport has maintained a remarkable average growth rate of 30 per cent to 40 per cent over the last three years, strengthening its position in the activewear segment. Furthermore, TechnoSport intends to capture 10 per cent of the Indian Activewear Market.
Puspen Maity, CEO of TechnoSport, shared, “This capital infusion marks a major milestone in our expansion journey, enabling us to speed up expansion on numerous fronts. With this support, we aspire to scale our operations, improve our product offerings, enlarge our user base, push brand building, and speed up digital efforts, ensuring we stay original in the sports technology industry.”
Sunil Jhunjhunwala, Co-Founder & MD at TechnoSport, remarked, “We greet A91 Partners as we follow our mission to democratise premium activewear not only for Indians but for an international audience. This funding will serve as a vehicle, enabling us to reinforce manufacturing infrastructure and intensify our digital brand presence. With this support, we aim to expand our reach globally, reinforcing India’s presence and motivating individuals universally to embrace a dynamic lifestyle.”
Sumit Santhalia, Co-Founder & Director at TechnoSport, highlighted, “Our mission is to deliver superior performance wear at reasonable prices, allowing every Indian to adopt an active lifestyle. With plans to launch 100 Exclusive Brand Outlets, we aim to increase accessibility countrywide. A91 Partners’ backing will speed up our growth, bringing us nearer to our vision of making quality activewear available to all.”
Abhay Pandey, General Partner at A91 Partners, remarked, “TechnoSport has shown that luxury activewear can be produced in India, and they are all set to democratise access to the category. This investment mirrors our confidence in their capacity to disrupt and enlarge the activewear market considerably, creating momentous impact.”
