Apparel brand Turms raises Rs 6 crore, to use funds on expansion
Apparel brand Turms has raised Rs. 6.3 crore (approx $0.9 million) in its latest funding round led by Freshworks founder Girish Mathrubootham, former Reliance Retail Lifestyle President Bijou Kurien, Pepperfry founder Ambareesh Murty, OneAssist founder Subrat Pani, and former Flipkart executive Mekin Maheshwari along with angels from LetsVenture & AngelList India.
Turms will be the using the funds to expand its product portfolio and also plans to set up experience centres in top cities across India. The company will also invest in technology and research and development.
“Globally most large brands are built around design, price, celebrities, and culture, but never intelligence. Our mission is to offer intelligent apparel at an affordable price. We believe that the world is moving towards functional and low maintenance apparel that can simplify our daily lives. Turms is committed to pioneering that revolution and habit formation in Indian consumers,” in a statement said Rameswar Misra, CEO and co-founder Turms.
Girish Mathrubootham, founder and CEO, Freshworks, added, "Young brands like Turms are disrupting the apparel industry and creating a niche market for themselves with their unique offering of intelligent apparel. The company has shown exponential growth in the last one year while maintaining quality and consistency. As a Turms consumer and an investor, I am very proud to be associated with the team since its inception.”
Turms has witnessed a spike in sales in the last one year and is aiming to break even within the next 6 to 9 months.
Founded in December 2016, Turms merchandise range includes jeans, t-shirts, shirts, and trackpants for men and t-shirts and leggings for women.
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