Innerwear brand Bummer has secured Rs 9.25 crore in a Pre-Series A1 funding round led by Gruhas Collective Consumer Fund. The brand is being backed by Fluid Ventures which has been consistent in its strategic support since December 2022.
The funds will ease Bummer’s journey towards becoming a formidable $100 million company within the next 5 years. The brand aims to expand its presence in the Tier II, II and IV cities across India with a focus on generating 50 per cent of revenues from key cities like Ahmedabad, Indore, Hyderabad, Chandigarh, Bhopal, and Jaipur.
Sustainable growth is at the forefront of Bummer's strategy, with a target to
achieve EBITDA breakeven within 12 months. The company is actively recruiting experienced key management personnel (KMPs) to drive expansion into new channels, including offline retail. While India remains the primary focus for the next 24 months, Bummer envisions venturing into Southeast Asia and the Middle East as potential global markets.
Bummer plans to conduct smaller, intermittent pilots in global markets to assess opportunities, with less than 5 percent of the budget allocated to these endeavors. Sulay Lavsi, Founder and CEO, says, the brand is committed to propelling growth with skilled teams, and a strong trustful image. It also aims to elevate its fashion quotient by adopting sustainability in operations, he adds.
