The Pant Project Raised ₹109 Cr to Become More Than a Pants Brand

The Pant Project built its identity around one category: bottomwear. Now the company is raising fresh capital to make that definition much broader. The fashion startup has secured ₹109 crore, or roughly $11.5 million, in a Series B round led by Mirae Asset Venture Investments (India) as it prepares for an aggressive offline and product expansion.

Existing investor Sorin Investments also participated alongside family offices and angel investors including Anisha Saraf, B&K Securities, MGA Ventures and B2V Ventures. The latest equity round takes The Pant Project’s total funding to more than $15.75 million. Separately, the company has secured an undisclosed amount of venture debt from Alteria Capital.

A large part of the new capital is heading offline. The Pant Project currently operates 25 exclusive brand stores and plans to increase that network to 150 over the next two to three years. That expansion represents a significant shift for a company that began as a digital-first brand and spent its early years building primarily through online channels.

The product strategy is widening at the same time. While trousers remain central to the brand, the company plans to push further into jeans, athleisure and casualwear as it develops a broader menswear portfolio. Its catalogue already spans more than 300 SKUs across custom- made bottomwear and ready-to-wear products for men and women, with distribution through its own website as well as marketplaces such as Myntra and Amazon.

Founded in 2020 by brothers Dhruv Toshniwal and Udit Toshniwal, The Pant Project bootstrapped for four years before raising its Series A in 2024. Sorin Investments says the company’s revenue has grown more than fivefold since that round, helped by repeat purchases.

The next chapter is therefore not simply about selling more trousers. The Pant Project is using the ₹109 crore round to test whether a focused digital-first category brand can turn itself into a much larger omnichannel menswear business.