Performance wear business TechnoSport raises $25 million

Performance wear brand TechnoSport has raised $25 million from investment fund A91 Partners. The Bengaluru based business’ first fundraise will boost its mass market sportswear operations.

The fundraise comes in at approximately Rs 208 crore, sources close to the development told ET Bureau. A91 Partners is an Indian investment fund and has backed a range of businesses including Paper Boat, HealthKart, Digit Insurance, and Blue Tokai Coffee among others.  
 
TechnoSport began its operations in 2007 and later expanded by opening a factory in Tamil Nadu’s Tiruppur, according to its website. The business is run by promoter Sunil Jhunjhunwala who also launched TechnoSport in the South African and UAE markets a few years ago.  
 
TechnoSport retails men’s and women’s sports apparel including vests, jackets, and pants as well as a range of children’s active wear, according to its Facebook page. The brand can be found in a range of multi-brand outlets across India and recently joined sustainable solutions business Bluesign as its first India-based partner.
 
With over 500 employees, TechnoSport manufactures approximately 12 million garments each year, according to its website. The business recently launched its summer collection of athleisure wear featuring beach inspired hues and abstract prints. The brand has also launched a selection of active outerwear such as zip up shells which are designed to remain aerodynamic when worn.