The Pant Project | ₹109 Cr (~$11.5M Series B)

Founders: Dhruv Toshniwal, Udit Toshniwal

Founded: 2020

Sector: D2C / Menswear / Fashion

What they do

→ Digital-first menswear brand specialising in bottomwear, built around fit, fabric and functional design

→ Products include custom-made trousers, Malai Pants and Inklock No Fade Black Jeans

→ Offers 300+ SKUs across custom-made and ready-to-wear apparel for men and women

→ Sells via its own website, marketplaces like Myntra and Amazon, and exclusive brand stores

The Funding

→ Raised ₹109 crore (~$11.5M) in Series B funding

→ Led by Mirae Asset Venture Investments (India), with existing investor Sorin Investments plus family offices and angels including @Anisha Saraf, @B&K Securities, MGA Ventures and B2V Ventures

→ Takes total funding to over $15.75M, following a $4.25M Series A in 2024 after four years of bootstrapping

→ Also secured undisclosed venture debt from Alteria Capital, with capital earmarked for offline expansion and a wider product range

Why it matters

→ Plans to grow its exclusive store network from 25 to 150 over the next two to three years

→ Revenue has grown more than fivefold since its Series A, driven by repeat purchases, per Sorin Investments

→ Expanding beyond core bottomwear into jeans, athleisure and casualwear

→ Competes with digital-first rivals like Snitch, Rare Rabbit and Bombay Shirt Company, plus legacy names like Raymond and Louis Philippe

Can a bottomwear specialist build a full menswear brand offline, or does going from 25 to 150 stores test the D2C playbook?