The Pant Project raises ₹109 Cr Series B to grow offline stores
In a round led by Mirae Asset Venture Investments (India), the menswear brand plans to go from 25 stores to over 150.
The 30-second read
- The Pant Project raised ₹109 Cr in a Series B led by Mirae Asset Venture Investments (India).
- It has 25 exclusive stores now and targets over 150 in two to three years.
- Funds will go to offline retail, new categories and omnichannel presence.
IllustrationThe Pant Project closed a Series B round of ₹109 Cr, led by Mirae Asset Venture Investments (India). Entrackr, Indian Startup News, Mint and The Hindu BusinessLine reported the deal. The company was founded by brothers Dhruv and Udit Toshniwal. Dhruv Toshniwal is co-founder and CEO.
On the other investors, reports differ. Entrackr and Indian Startup News said existing investor Sorin Investments joined, along with new investors Hyperscale Ventures, B&K Securities, MGA Ventures and B2V Ventures. The Hindu BusinessLine said the round had Sorin Investments plus family offices and angel investors.
The company has 25 exclusive stores now. It wants over 150 in two to three years. It will use the money to expand offline retail, enter new categories and strengthen its omnichannel presence. Dhruv Toshniwal said: "That foundation gave us the data, the product knowledge and the brand equity to now go deep offline," as first reported by Indian Startup News.
Indian Startup News also first reported that Mandar Dandekar, partner at Sorin Investments, said revenue grew more than fivefold since Series A, supported by repeat purchases. The Series A was $4.25 million in 2024, led by Sorin Investments. The firm also secured venture debt from Alteria Capital, amount undisclosed. IndigoEdge was the investment banker.
Why it matters
A digital-first Indian brand is betting on physical stores. It shows growing offline retail and tougher competition among Indian fashion brands, in a menswear market IMARC estimates at $23.5 billion in 2026.
