Dominor Investment and others invest in startup investment to Zymrat
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24 January 2022, Mumbai:
Dominor Investment Holding LLP led a $500,000 (Rs 3.5 crore) seed fundraising round for Zymrat, an innovation-driven performance apparel business.
Angel investors like Aditya Somani, Rashmi Daga, Mahesh Agrawal, Mridumesh Rai, Ankit Somani, and Sunil Goyal participated in the investment round, as did Anicut Angel Fund.
The cash will be used to expand the brand's category, accelerate product innovation, hire talent, and increase brand recognition through brand building.
"We are observing 5x higher demand for our goods in the sector we operate in," Ujjawal Asthana, co-founder and CEO of Zymrat, said in a statement about the fundraising.
Our largest product market validation has been a 40% repeat rate, indicating that we are on the correct track. This investment will enable us to create and produce high-performance, long-lasting, and one-of-a-kind goods employing new technology.``
"Providing clients with world-class sports apparel, based on cutting-edge fabric technology and inspirational designs, is the main driver of Zymrat," said Tushar Singh, managing partner of Dominor Investments Holding LLP. We at Dominar are very delighted to help Zymrat in closing a critical market gap in India, having led two rounds of fundraising at the firm."
Zymrat is an innovation-led performance wear company for men that offers a wide range of items such as training and running t-shirts, shorts, joggers, and outerwear. It was founded in 2018 by Ujjawal Asthana and Ankita.
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