Techno Sportswear raises US$25 million from A91 Partners

Bengaluru-based Techno Sportswear has secured US$25 million in funding from investment fund A91 Partners, according to sources familiar with the transaction. This marks the company's first fundraising round.

Transaction snapshot

  • Deal value: US$25 million
  • Deal multiples: N/A
  • Deal type: Equity funding
  • Investors: A91 Partners

Techno Sportswear manufactures performance wear targeted at the masses and markets its sportswear apparel under the brand name Technosport. The company, which began operations in 2007 with a small office and five employees, commissioned a modern factory in Tiruppur, Tamil Nadu, five years ago. In 2020-21, under the leadership of promoter Sunil Jhunjhunwala, the company launched the Technosport brand in South Africa and the UAE.

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 sectors. The homegrown fund, established in 2018, has backed companies such as Digit Insurance, HealthKart, Blue Tokai Coffee, and Paper Boat, among others.

According to its website, Techno Sportswear employs over 500 people and produces 12 million garments annually. Advay Capital Advisors advised on the fundraising transaction.

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