D2C Fashion Brand The Pant Project Secures $4.25M in Series A Funding

The Pant Project is a renowned fashion brand dedicated to providing customers with custom-made pants that offer exceptional comfort, flexibility, and style. Their philosophy is centered around ensuring that clothing not only looks great but also feels comfortable. The brand specializes in creating custom-made pants tailored to each individual’s measurements to provide a perfect fit, maximum comfort, and flexibility. The Pant Project uses a unique power stretch fabric blend, including spandex and elastane, to offer unparalleled stretch and durability. These pants are designed to move with the body, making them suitable for various activities from office wear to casual outings or outdoor adventures. The brand offers a range of colors and styles to cater to different tastes and preferences.

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The Pant Project, a direct-to-consumer (D2C) fashion brand, has successfully secured $4.25 million in its Series A funding round. This investment marks a significant milestone as the startup’s first institutional backing. Leading the funding round was Sorin Investments, a venture capital firm established by former KKR India CEO Sanjay Nayar. Other contributors included MGA Ventures, Huddle, Dexter Ventures, and Indian Silicon Valley. Additionally, notable angel investors such as Arjun Vaidya, Avni Biyani, Nikhil Bhandarkar, and Vijay Taparia also participated in this round. Dexter Capital Advisors played a pivotal role as the exclusive financial advisor for this transaction.

Dhruv Toshniwal and Udit Toshniwal, third-generation members of the Banswara Syntex family, established The Pant Project in 2020. Drawing on their family’s extensive experience in textile manufacturing spanning over 50 years, Dhruv and Udit Toshniwal lead The Pant Project with their collective knowledge and skills. Dhruv Toshniwal, who graduated from Wharton with a degree in finance, handles the business operations of the company. Udit Toshniwal, a graduate of The School of the Art Institute of Chicago, is responsible for shaping the creative vision of The Pant Project.

The Pant Project is a direct-to-consumer (D2C) fashion brand specializing in bespoke and off-the-rack trousers designed for diverse occasions. Its goal is to accommodate all body types in India. In 2023, the startup adopted an omnichannel approach, expanding its offerings to include off-the-shelf trousers. The brand boasts a wide selection of more than 250 styles, ranging from formal wear to chinos, jeans, cargos, joggers, power stretch knit trousers, luxury linens, and wool, catering to both men and women. According to Udit Toshniwal, co-founder of The Pant Project, “We strongly believe in simplifying wardrobes to simplify lives, allowing individuals to focus on what truly matters. Our mission has always been to provide the utmost comfort in trousers for every occasion.”

Dhruv Toshniwal stated that the startup plans to use the new capital to expand its team, enhance its technological capabilities, increase brand awareness, and grow its retail store presence. He remarked, “This initial funding round is crucial for driving our next phase of growth as we strive to become India’s leading bottom-wear brand with a robust omnichannel presence. Our competitive edge lies in our deep understanding of the apparel supply chain, granting us access to top-quality global fabrics and designs for our customers.” Toshniwal further added, “We possess data on custom fits for over 100,000 Indian men, which we continually leverage to make improvements.” The Pant Project, currently running three physical stores in Mumbai and Bengaluru, is set to open 25 to 30 stores nationwide within the next three years. The company also intends to broaden its product range to include more casual and athleisure options. Furthermore, it is aiming to achieve a revenue of Rs 100 crore within the next 18-24 months.

Dhruv Toshniwal emphasized the significant opportunity within the Indian market for bespoke and off-the-shelf trousers, valued at approximately $4 billion. The primary sales avenue for The Pant Project remains its dedicated website, constituting 65% of overall sales. The startup asserts a robust presence across prominent online platforms such as Amazon and Myntra, alongside physical storefronts in Mumbai and Bengaluru. Having successfully catered to more than 100,000 clients over the last four years, the brand recorded a revenue of Rs 31 crore in FY24. Presently, 60% of its clientele hails from Tier-I cities, with the remaining 40% from Tier-II cities.

The Pant Project, a D2C fashion brand, secured $4.25 million in Series A funding led by Sorin Investments and notable angel investors. Founded by Dhruv and Udit Toshniwal, it specializes in bespoke and off-the-rack trousers for all body types. With an omnichannel approach, the brand offers over 250 styles. The funding will fuel team expansion, tech enhancement, and retail growth, aiming to become India’s top bottom-wear brand. Plans include opening 25-30 stores, broadening product range, and targeting Rs 100 crore revenue. Currently thriving, the brand’s success is evident in its strong online and physical store presence and revenue growth.