June 22, 2024
Corporates

Techno Sportswear Raises $25 Million From A91 Partners

Bengaluru-based Techno Sportswear has secured $25 million (approximately Rs 208 crore) in funding from investment fund A91 Partners.

The company specializes in manufacturing performance wear aimed at the mass market, selling its sportswear apparel under the brand name Technosport. This marks the company’s inaugural fundraising effort.

Founded in 2007 with just five employees, Techno Sportswear expanded its operations significantly over the years. In 2016, it established a modern factory in Tiruppur, Tamil Nadu, a prominent textile hub in India. Under the leadership of promoter Sunil Jhunjhunwala, the company ventured into international markets, launching the Technosport brand in South Africa and the UAE in the fiscal year 2020-21.

The fundraising transaction was facilitated by Advay Capital Advisors.

A91 Partners, led by former Sequoia Capital India (now Peak XV Partners) partners Abhay Pandey, VT Bharadwaj and Gautam Mago, specializes in investments across technology, consumer goods and financial services sectors.

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