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Innerwear company Bummer raises ₹9.25 crore in funding

Bummer, an innerwear company has raised ₹9.25 crores in a Pre-Series A1 funding round.

Also read: Lux Industries expecting good growth in mid-premium segment

The funding spearheaded by Gruhas Collective Consumer Fund marks one of their first investments as a fund.

Further strengthening the strategic support, is the continued backing from Fluid Ventures, an established investor in Bummer since December, 2022.

This funding round is a pivotal step in positioning the brand as a $100 million company within the next 5 years. Expecting to generate 50 per cent of revenues from key cities like Ahmedabad, Indore, Hyderabad, Chandigarh, Bhopal and Jaipur, the focus is on amplifying brand awareness and expanding into Tier 2, 3 and 4 cities across India, said the company. 

Sulay Lavsi, the Founder and CEO of Bummer said, “The support and leadership from Gruhas Collective Consumer Fund and Fluid Ventures helps fuel our vision of expanding with a skilled managerial team. In an industry marked by minimal growth and dominated by a few major players for decades, we see ourselves as a disruptor of this category. Together, we are committed to propelling the brand’s growth with skilled teams, a strong trustful brand image and we’re set to revolutionise this stagnant category, elevating its fashion appeal along with sustainability.”

While Bummer’s immediate focus remains on India for the next 24 months, the vision extends beyond borders, as it views South-East Asia and the Middle East as potential global markets for the product.

Also read: Lux Industries sets eyes on expanding multi-channel footprint and exports

The brand will conduct smaller, intermittent pilots in the global market to gauge potential opportunities. Currently, its global expansion efforts will be conservative, with less than 5 per cent of the budget allocated to these pilots.

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