Zymrat, an innovation-led performance wear brand, announced raising $500 K in seed funding on January 21, 2022. The investment was led by Dominor Investment Holding LLP and Anicut Angel Fund.
The funds will be used for category extension, accelerating product innovation, hiring talent, and building awareness and visibility through brand building.
Besides, Angel investors such as Aditya Somani, Rashmi Daga, Founders – Fresh Menu, Mahesh Agrawal, Mridumesh Rai, Business Director – Alshaya Group, Ankit Somani and Sunil Goyal, Founders- Ladderup Finance, also participated in the round.
The startup is challenging the status quo
The startup plans to launch 30 new SKUs over the next few months. Zymrat challenges the status quo across multiple categories such as intensive performance, activewear and athleisure.
Founded in 2018 by Ujjawal Asthana and Ankita, Zymrat is an innovation-led performance wear brand with technology at its core. The company offers a wide range of training and running t-shirts, shorts, joggers and outerwear for men.
Its extensive focus on raw materials has created world-class products and IPs that are an industry first. SuperSilva, Zero Odour T-Shirts with sustainable silver ions and The Ball Cooling shorts are some of the recent innovations by the company.
Ujjawal Asthana, Co-Founder and CEO, Zymrat, said, āWe are extremely pleased with the trust our investors have placed on us. The activewear and athleisure market has been growing exponentially in India.ā
The startup is witnessing 5x more demand for our products in the space we operate in. Repeat rate of 40 percent has been our biggest product market validator that we are moving in the right direction.
āWe are gearing up to launch 30 new SKUs across categories in the next few months. This capital infusion will help us in using revolutionary technologies to design and develop high-performance, durable and unique products,ā added Ujjawal Asthana.
Innovation-led D2C performance wear brand
An innovation-led D2C performance wears brand with technology at its core, and the company raised $250K in December 2020 from Dominor Investment Holding LLP as lead, LetsVenture Angel Fund, and other prominent angel investors.
Tushar Singh, Managing Partner, Dominor Investments Holding LLP, said, āProviding customers world-class athletic wear, based on cutting edge fabric technology and inspiring designs are the core drivers of Zymrat.ā
āAs the fitness market grows in India, so does the need for an indigenous brand from India that allows every man to feel excited, proud and exceedingly comfortable in what he is wearing when breaking a sweat,ā added Tushar Singh.
