Indian sportswear brand TechnoSport has raised 1.75 billion Indian rupees ( €19.32 million) from investment fund A91 Partners. The company plans to use the fresh capital to improve its production capacities, focus on digital brand development and strengthen its marketing activities.
“With this support, we are poised to scale our operations, enhance our product offerings, significantly increase our user base, drive brand building, and propel our digital acceleration efforts, ensuring we remain at the forefront of innovation in the sports technology industry,” said CEO Puspen Maity.
With a network spanning 15 states and more than 5,000 active retail locations, Bengaluru-based TechnoSport has an average growth rate of 30 to 40 percent and is targeting a 10 percent share of the Indian activewear market. The company, which started operations in 2007, commissioned a modern factory in the textile hub of Tiruppur in Tamil Nadu five years ago.
TechnoSport produces and sells products such as T-shirts, training pants, jackets, vests, sweatshirts and innerwear, with an average price range between Rs. 200 (€2.20) and Rs. 700 (€7.70). Under the leadership of promoter Sunil Jhunjhunwala, the company launched the Technosport brand in South Africa and the United Arab Emirates in 2020/21.
A91 Partners is an Indian investment firm firmly entrenched in the country’s vibrant entrepreneurial ecosystem. It was established in 2018 by former Sequoia Capital India partners Abhay Pandey, VT Bharadwaj and Gautam Mago. A91 specializes in late-venture and early-growth investments and focuses its investments on key sectors such as consumer goods, healthcare, technology and financial services.
