Bummer, the trailblazing innerwear brand renowned for its comfort-first approach and stylish designs, has proudly announced a substantial capital infusion of INR 9.25 Crore. This financial milestone was achieved in a Pre-Series A1 funding round, with the Gruhas Collective Consumer Fund (GCCF) at the helm, marking one of their inaugural investments. Fluid Ventures, a steadfast supporter of Bummer since December 2022, continues to back the brand, reinforcing the company’s potential for expansive growth.
With this fresh capital, Bummer is set on a strategic path to widen its footprint across the Indian subcontinent, targeting Tier 2, 3, and 4 cities to solidify its market presence. The brand’s ambitious blueprint includes the creation of over 10,000 offline touchpoints within the next five years, spanning Exclusive Brand Outlets (EBOs), Multi-Brand Outlets (MBOs), and Large Format Stores (LFSs). This multi-channel offline presence aims to diversify revenue streams and enhance brand visibility across the nation.
Investments will also be channelled towards team development, focusing on expanding the team and honing skills to navigate market challenges adeptly. This strategic approach underscores Bummer’s commitment to building a $100 million company within five years, with aspirations to achieve EBITDA breakeven in just 12 months.
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Bummer’s immediate focus will remain on penetrating the Indian market over the next 24 months, while also casting an eye towards international horizons. The brand envisages South-East Asia and the Middle East as potential markets, planning to conduct smaller-scale pilots to explore these opportunities.
Sulay Lavsi, Founder and CEO of Bummer, expressed his enthusiasm about the funding, stating, ” We’re embarking on an elevating chapter for Bummer, and this Pre-Series A1 funding round marks a significant milestone in our journey. The support and leadership from Gruhas Collective Consumer Fund and Fluid Ventures fuel our vision of expanding with a skilled managerial team. In an industry marked by minimal growth and dominated by a few major players for decades, we see ourselves as a disruptor of this category. Together, we are committed to propelling the brand’s growth with skilled teams, a strong trustful brand image and we’re set to revolutionize this stagnant category, elevating its fashion appeal along with sustainability.”
Abhijeet Pai, Co-founder of Gruhas & General Partner- GCCF, shared his optimism about Bummer’s disruptive potential, commenting, “Team Bummer has crafted a brand that resonates with the young at heart and comfort first consumer in a rapidly evolving domain: the underwear and loungewear space. Bummer is disrupting the longstanding monopoly held by a handful of players in the men’s underwear Category. We believe that Bummer’s innovative approach, coupled with its quality products and edgy new-age design is perfectly positioned to capture the Gen-Z market. With our first investment from the GCCF fund, we look forward to supporting brands that actively shape the future of their respective industries.”
Vijay Subramaniam, Founder and Group CEO of Collective Artists Network, highlighted the cultural alignment between the organizations, stating, “At Collective Artists Network, we are committed to being the torchbearers of pop culture in India. Bummer’s approach resonates harmoniously with our ethos, and we firmly believe that the creator economy is poised for explosive growth. We are enthusiastic about contributing to their narrative in the consumer space and shaping the future landscape of creative expression.”
This infusion of funds propels Bummer into an exciting growth phase, underscoring its mission to offer sustainable, comfortable, and fashionable options to its audience, thereby reshaping the Indian innerwear landscape.
About Bummer
Bummer, founded in 2020 by Sulay Lavsi, is a game-changer in the Indian innerwear industry featured on Shark Tank India – Season 1, this D2C startup redefines innerwear with ultra-soft, eco-conscious comfort wear. Crafted from BeechWood Trees’ micro modal fiber, Bummer blends comfort, durability, and style. Breaking industry norms, it embraces bold prints and a vibrant online presence. Embrace Bummer – where comfort meets creativity, challenging norms and celebrating individuality.
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About Gruhas Collective Consumer Fund (GCCF)
GCCF is a VC fund that brings a fresh approach to consumer ventures with unparalleled insight and targeted capital infusion. The fund is a partnership between Gruhas and Collective Artists Network. Gruhas’ expertise complements the creative amplitude of Collective Artists, offering a multifaceted platform for ventures to grow, connect, and make an indelible mark. They are focused on early-stage investments in the new-age consumer-focused brands, building for India.
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