Bengaluru-headquartered Techno Sportswear has raised $ 25 million (about Rs 208 crore) from the investment fund A91 Partners, according to people briefed on the transaction.
The company manufactures performance wear targeted at the masses and markets its sportswear apparels under the brand name Technosport. This is also the first fundraise, sources added.
The company, which started operations in 2007 with a small office with five employees, commissioned a modern factory five years ago at the textile hub of Tiruppur in Tamil Nadu. Helmed by promoter Sunil Jhunjhunwala, the company, in 2020-21, launched the Technosport brand in South Africa and UAE. Advay Capital Advisors advised on the fundraise transaction.
A91 Partners, founded by former Sequoia Capital India (now Peak XV Partners) partners Abhay Pandey, VT Bharadwaj and Gautam Mago, focuses on investing in companies across technology, consumer and financial services.
The company’s website says it has about 500 plus employees and makes 12 million garments a year.
Techno Sportswear, A91 Partners and Advay Capital had not responded to mails as at the press time.
Founded in 2018, the homegrown A91 has backed companies like Digit Insurance, HealthKart, Blue Tokai Coffee, and Paper Boat, among others
