Sportswear brand TechnoSport raises Rs 175 crore from A91 Partners

Sportswear brand TechnoSport on Friday said it has raised Rs 175 crore from A91 Partners, an early growth equity fund.

This fresh capital will help TechnoSport enhance its manufacturing capabilities, focus on digital brand building, and amplify its marketing activities, the Bengaluru-headquartered firm said in a statement.

"The funding will also support the expansion of TechnoSport's sales and distribution channels, helping the brand reach a wider audience," it said.

The Indian sports apparel market was valued at $673.34 million in 2022 and is expected to reach $1,926.10 million by 2029, with a CAGR of 16.2 per cent.

Over the past three years TechnoSport, which aims for 10 per cent of the Indian activewear market, has maintained an average growth rate of between 30-40 per cent, it said.
 

 

TechnoSport CEO Puspen Maity said this fresh infusion of capital marks a pivotal moment in the company's growth journey, enabling to accelerate expansion on multiple fronts.

"With this support, we are poised to scale our operations, enhance our product offerings, significantly increase our user base, drive brand building, and propel our digital acceleration efforts, ensuring we remain at the forefront of innovation in the sports technology industry," he said.

TechnoSport offers high-performance apparel tailored for the Indian market at affordable prices. It aims to cater to the masses.

A91 Partners General Partner Abhay Pandey said, "This investment represents our confidence in their ability to disrupt and significantly expand the activewear market and create meaningful impact.