Mumbai: Zymrat, an innovation-led performance wear brand today announced raising $500,000 in seed funding. The investment was led by Dominor Investment Holding LLP, the funds will be used for category extension, accelerating product innovation, hiring of talent, and building awareness and visibility through brand building. Anicut Angel Fund, Angel investors such as Aditya Somani, Rashmi Daga, Founders – Fresh Menu, Mahesh Agrawal, Ankit Somani, and Sunil Goyal, Founders- Ladderup Finance, also participated in the round.
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 products such as training and running t-shirts, shorts, joggers and outerwear for men. Zymrat, through 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.
Speaking about the funding, Ujjawal Asthana, Co-Founder & CEO, Zymrat said, “We are extremely pleased with the trust our investors have placed on us. The activewear and athleisure market has been growing exponentially in India. We are witnessing 5x more demand for our products in the space we operate in. Repeat rate of 40% has been our biggest product market validator that we are moving in the right direction. We 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.”
Tushar Singh, Managing Partner, Dominor Investments Holding LLP said, “Providing customers world-class athletic wear, based on cutting edge fabric technology and inspiring designs are the core drivers of Zymrat. Having led two rounds of funding at Zymrat, we at Dominar are very excited at supporting the company in solving a major market gap in India. As 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.”
Ashvin Chadha, Co-founder – Anicut Angel Fund said, “Innovation through technology is the next step in fashion and we have immense belief in Zymrat and their founders in ensuring high-quality activewear for the customers. We are thrilled to support their endeavors and mission of supporting the commitment of every individual towards self-care, personal health and athletics through one-of-its-kind engineered products. My best wishes to team Zymrat.”
The company has raised $250K in December 2020 from Dominor Investment Holding LLP as lead, LetsVenture Angel Fund, and other prominent angel investors.