Menswear brand The Pant Project has raised ₹109 Cr (about $11.5 Mn) in a Series B funding round led by Mirae Asset Venture Investments (India) to expand its offline presence and broaden its apparel portfolio.
Existing investor Sorin Investments also participated in the round, alongside family offices and angel investors, including Anisha Saraf, B&K Securities, MGA Ventures, and B2V Ventures.
The latest round takes the startup’s total funding to over $15.75 Mn. It previously raised $4.25 Mn in a Series A round led by Sorin Investments in 2024, following four years of bootstrapping.
Separately, The Pant Project secured venture debt financing from Alteria Capital for an undisclosed amount.
The startup plans to increase its exclusive brand store network from 25 to 150 over the next two to three years. It will also deploy the fresh capital to broaden its menswear portfolio, with a focus on jeans, athleisure, and casualwear.
While it already sells jeans and products such as sweatpants, joggers, and shorts, the startup said it intends to build a broader menswear business beyond its core bottomwear offering.
Founded in 2020 by brothers Dhruv Toshniwal and Udit Toshniwal, The Pant Project started as a digital-first brand specialising in bottomwear for Indian men. Its portfolio includes products such as Malai Pants and Inklock No Fade Black Jeans.
The startup offers more than 300 stock-keeping units (SKUs), spanning custom-made bottomwear and ready-to-wear apparel for men and women. It sells through its website and online marketplaces, including Myntra and Amazon.
“The Pant Project started as a digital-first brand. That foundation gave us the data, the product knowledge and the brand equity to now go deep offline,” said founder and CEO Dhruv.
According to Mandar Dandekar, partner at Sorin Investments, the startup’s revenue has grown more than fivefold since its Series A round, supported by repeat purchases.
The Pant Project operates in a competitive menswear market, alongside digital-first brands such as Snitch, Bombay Shirt Company, Rare Rabbit, and established players like Blackberrys, Raymond, and Louis Philippe.
The fundraise comes amid continued investment in offline expansion by D2C fashion brands. Last week, menswear brand KISAH raised ₹35.9 Cr in a Series A round led by Fireside Ventures, primarily to expand its retail network.
At the heart of this funding push is the growing Indian menswear market, which is seeing brands compete across price points — from affordable fashion to premium apparel. The market is projected to reach $42.44 Bn by 2034 from $23.5 Bn in 2026, clocking a CAGR of 7.24%, according to IMARC Group.
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