The Pant Project Raises ₹109 Cr in Series B

Mirae Asset Venture Investments led the Series B round, enabling the brand to open 150 stores and diversify into casual categories.

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The digital-first menswear label The Pant Project closed a ₹109 crore Series B round led by Mirae Asset Venture Investments.
The capital will fund the expansion of its store count from 25 to 150 and the addition of new apparel lines.

The Pant Project, a digital-first menswear label, closed a Series B financing round worth ₹109 crore. Mirae Asset Venture Investments (India) led the transaction, according to The Hindu BusinessLine. Inc42 reported that Sorin Investments, a previous backer, joined the round alongside various family offices and individual angels, including Anisha Saraf and B&K Securities. This latest injection pushes the company’s total capital raised beyond $15.75 million.

The founders, Dhruv and Udit Toshniwal, established the brand in 2020 with a focus on bottomwear for Indian men. The new funds will primarily support a significant physical retail push. The company currently maintains 25 dedicated outlets in India. As reported by The Hindu BusinessLine, management intends to scale this network to 150 locations within the next two to three years. This growth strategy aims to enhance customer access in major markets. Inc42 added that the startup also obtained venture debt from Alteria Capital for an unspecified sum.

Beyond its core trouser offerings, the brand plans to diversify its catalogue. The Hindu BusinessLine noted the intention to introduce jeans, athleisure, and casualwear, applying its expertise in fit and fabric to these new segments. Inc42 explained that while the company already sells items like sweatpants and joggers, it seeks to build a comprehensive menswear business. The label currently lists over 300 stock-keeping units, available via its own website and platforms like Myntra and Amazon.

Dhruv Toshniwal, the chief executive, explained that the initial digital approach provided essential data and brand credibility for the offline transition. Mandar Dandekar, a partner at Sorin Investments, indicated that sales have increased by more than five times since the 2024 Series A round, driven largely by repeat customers. The brand competes with other digital-first labels such as Snitch and Bombay Shirt Company, as well as traditional firms like Raymond.

Inc42 contextualized the raise within a broader trend of direct-to-consumer fashion companies investing in physical retail. The Indian menswear sector is expected to grow from $23.5 billion in 2026 to $42.44 billion by 2034, according to projections from IMARC Group cited by the publication.

The Pant Project Secures ₹109 Crore to Broaden Menswear Offerings

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