The funding comes at a time when we seek to deepen our commitment sustainability to deliver eco-conscious products in keeping with millennial aspirations
Bummer, an Indian comfort wear brand, announced that it has raised Rs 75 lakhs on Shark Tank India’s latest season. Judges of Shark Tank India panel, Aman Gupta – Founder, Boat Electronics, and Namita Thapar of Emcure Pharma, invested against a total equity of 7.5%. This big win for the homegrown startup comes as the second round of funding for the brand, as it also recently bagged $ 180K funding from the Singapore-based BeeNext.
Bummer is a new-age, apparel brand focused on crafting comfy underwear and loungewear, that are specifically designed for India’s 40 cr millennials. Bummer’s stated mission is fairly simple, it’s to help people feel comfortable and confident without breaking their bank. They aim to achieve this by using the softest fabric known to the industry, Micro-Modal. This unique fabric blend is made from the fibres of Beechwood trees and is known for its superior quality, sustainable production and durability. Giving bummer products all the key ingredients of a premium feel at an affordable price range. The Bummer range of innerwear essentials is the result of 2 years of intense research to develop the softest fabric possible. They aim to disrupt the industry with a palette of colourful patterns & designs, a complete opposite to the usual dull and drab innerwear of their competitors.
Speaking on the occasion, Mr Sulay Lavsi, Founder – Bummer, said, “The funding and recognition from Shark Tank India’s veterans comes at an exciting time as we seek to expand our markets to embrace more millennials and strengthen our backend logistics & delivery capabilities. This validation of our venture in itself is a huge step forward for us. The Funding will be used to offer a wider variety of products and further build our team. At Bummer, we are focussed on disrupting the innerwear space by offering sustainable, eco-friendly innerwear in bold colours and funky designs to millennials. Our products use 47% less water in manufacturing, have 18% reduced carbon footprint over cotton, and save 359 hours of energy resources over cotton. With 47% of our users being from non-metro cities, 23% revenue from repeat customers, we are focussed on youth and millennials. As 67% of our users are from the 18-34 age group, we foresee a stronger surge in demand from this segment going forward. The funding comes at a time when we seek to deepen our commitment sustainability to deliver eco-conscious products in keeping with millennial aspirations”.
Commenting on the funding, Shark Tank Investor, Mr Aman Gupta, Founder, Boat Electronics, said, “We were impressed by Sulay’s drive and vision to disrupt the millennial-focussed innerwear market. I am confident that with their high-quality offerings, Bummer is set to change the norms and soon, rule the market!”
Bummer is an Ahmedabad-based innerwear company, focussed on delivering eco-friendly, Sustainability focussed and high quality products for both genders. The company’s products, targeted at millennials, are made exclusively from micromodal fibres and the softest material known to mankind, with each pair weighing less than 60 gm. An ecologically and ethically conscious brand, Bummer is seeking to disrupt the staid innerwear market by enabling the millenials and customers to feel more good, comfortable and conscious amongst themselves.
Source: Business World