The Pant Project, a menswear brand specialising in bottomwear, has raised Rs 109 crore in a Series B funding round led by Mirae Asset Venture Investments (India).
Existing investor Sorin Investments also participated in the round, along with family offices and angel investors, including Anisha Saraf, B&K Securities, MGA Ventures and B2V Ventures, according to the company’s release.
The company plans to use the fresh capital to expand its offline retail network, enter new product categories and strengthen its omnichannel presence.
Founded by brothers Dhruv and Udit Toshniwal, The Pant Project started as a digital-first brand focused on bottomwear for Indian men. Its product portfolio includes Malai Pants and Inklock No Fade Black Jeans.
The company currently operates 25 exclusive brand stores across India and plans to increase the count to over 150 in the next two to three years. It also plans to expand into adjacent menswear categories, including jeans, athleisure and casualwear.
Commenting on the fundraise, Dhruv Toshniwal, founder and CEO of The Pant Project, said “the company is now looking to expand its offline presence after building its business as a digital-first brand”.
He added that its stores allow customers to experience the fabric and fit of its products in person, helping the company build stronger relationships with customers. The latest fundraising follows its US $4.25 million Series A round in 2024, led by Sorin Investments.
The company had self-financed its business before raising institutional capital. Alongside the equity round, The Pant Project has also secured venture debt financing from Alteria Capital, although the amount was not disclosed.
IndigoEdge acted as the investment banker for the Series B transaction. The fresh capital will help the company scale its retail network and broaden its product portfolio as it looks to build a larger presence in India’s premium menswear market.
