Techno Sportswear raises Rs 208 crore in first fund-raising initiative
In its first fund raising initiative, performance wear manufacturer, Techno Sportwear raised funds worth Rs 208 crore from its investment fund A91 Partners.
Techno Sportswear manufactures performance wear for the masses and markets it under the brand name Technosport. The company started its operations in 2007 with a small office having five employees. It commissioned a modern factory five years ago at Tiruppur in Tamil Nadu.
The brand Technosport was launched by the company, led by Sunil Jhunjhunwala, Promoter in 2020-21 in South Africa and UAE. The fundraise transaction was supervised by Advay Capital Advisors.
Founded by former Sequoia Capital India, Sequioa Capital India (now Peak XV Partners), A91 Partners’ partners Abhay Pandey, VT Bharadwaj and Gautam Mago, focuses on investing in companies across technology, consumer and financial services.
According to the company’s website, it has over 500 employees and makes 12 million garments a year.
Techno Sportswear, A91 Partners and Advay Capital had not responded to mails as at the press time.
Founded in 2018, the homegrown A91 has backed companies like Digit Insurance, HealthKart, Blue Tokai Coffee, and Paper Boat, etc.
