FUNDING
The Pant Project Raises ₹109 Crore in Series B Funding Led by Mirae Asset
Indian direct-to-consumer (D2C) menswear brand The Pant Project has raised ₹109 crore in a Series B funding round led by Mirae Asset Venture Investments (India). The company will use the fresh capital to expand its retail network, introduce new menswear categories, and strengthen its omnichannel business.
Founded by brothers Dhruv Toshniwal and Udit Toshniwal in 2020, The Pant Project began as a digital-first brand focused on comfortable, well-fitting trousers for Indian consumers. With its latest fundraising, the company plans to expand beyond its core bottom wear category and establish a broader presence in the Indian menswear market.
The Pant Project Funding Details
The Pant Project raised ₹109 crore in its Series B funding round announced on October 19, 2026. Mirae Asset Venture Investments (India) led the round, with participation from existing investor Sorin Investments, family offices, and angel investors.
Here are the key details of The Pant Project's latest funding round:
Particulars | Details |
Startup | The Pant Project |
Industry | D2C fashion and menswear |
Latest funding round | Series B |
Funding amount | ₹109 crore |
Lead investor | Mirae Asset Venture Investments (India) |
Other investors | Sorin Investments, MGA Ventures, B2V Ventures, B&K Securities, Anisha Saraf and other investors |
Founders | Dhruv Toshniwal and Udit Toshniwal |
Founded in | 2020 |
Key use of funds | Retail expansion, new product categories and team expansion |
Financial support | Additional venture debt from Alteria Capital; amount undisclosed |
The company has also secured venture debt financing from Alteria Capital, although the amount has not been publicly disclosed. IndigoEdge acted as the investment banker for the Series B transaction.
Who Invested in The Pant Project's Series B Round?
Mirae Asset Venture Investments (India) led The Pant Project's ₹109 crore Series B funding round. Existing investor Sorin Investments also participated, alongside family offices and angel investors.
The reported investors include:
Mirae Asset Venture Investments (India): The lead investor in the latest funding round.
Sorin Investments: An existing investor that participated in the Series B round.
MGA Ventures: An investor that had also participated in the company's Series A round.
B2V Ventures and B&K Securities: Participants in the latest round.
Anisha Saraf: An angel investor and co-founder of Dot & Key.
Other family offices and angel investors: Additional participants in the funding round.
The latest investment follows the company's earlier institutional fundraising in 2024, when Sorin Investments led its Series A round.
How Much Funding Has The Pant Project Raised So Far?
The Pant Project raised $4.25 million (approximately ₹35 crore at the time) in its Series A round in June 2024. Sorin Investments led the round, with participation from investors including MGA Ventures, Huddle Ventures, Dexter Ventures, Indian Silicon Valley Capital and several angel investors.
In October 2026, the company raised another ₹109 crore through its Series B round.
According to Inc42, the latest equity round takes The Pant Project's total funding to more than $15.75 million. The company has also secured separate venture debt from Alteria Capital, for which the amount has not been disclosed.
How Will The Pant Project Use Its Fresh Funding?
The Pant Project plans to use its Series B capital to expand its physical retail presence, broaden its product portfolio, and strengthen its operations.
1. Expand Its Retail Store Network
The company currently operates 25 exclusive brand stores across India. It plans to increase this number to more than 150 stores over the next two to three years.
The expansion will help The Pant Project reach customers who prefer trying on apparel in person before making a purchase. Physical stores can also improve product discovery, fitting experiences and brand visibility.
2. Enter New Menswear Categories
The Pant Project plans to broaden its offering beyond its core bottomwear business. Its expansion strategy includes a stronger focus on jeans, athleisure and casualwear.
The company already offers several types of trousers, joggers, shorts and related apparel. The additional investment is expected to support product development and help it serve a wider range of everyday clothing needs.
3. Strengthen Its E-commerce and Retail Network
The Pant Project started as an online-first brand and later expanded into physical retail. It sells through its own website, online marketplaces such as Myntra and Amazon, and exclusive brand stores.
The new funding will support the company's efforts to connect these sales channels and strengthen its retail operations. The company is also looking to adopt retail technology to support its omnichannel business.
4. Expand Its Team and Operations
As the company increases its store count and product range, it will need to strengthen its teams and operating capabilities. The latest capital is expected to support this expansion alongside its retail and product development plans.
What Does The Pant Project Do?
The Pant Project is an Indian D2C apparel brand founded in 2020 by brothers Dhruv Toshniwal and Udit Toshniwal. It focuses on bottomwear designed around fit, fabric and comfort, with options for different occasions and preferences.
The company initially built its business around custom-made trousers before expanding into ready-to-wear products and physical retail.
Its product portfolio includes formal trousers, chinos, jeans, cargos, joggers and other casualwear. The brand also offers products such as Malai Pants and Inklock No Fade Black Jeans.
The company's approach combines online shopping, custom-fit knowledge and physical retail to address common challenges consumers face when buying trousers and other bottomwear.
The Pant Project's Business Growth and Expansion Strategy
The latest funding round comes as The Pant Project looks to scale its business beyond its original online-first model.
During its Series A announcement in June 2024, the company reported revenue of ₹31 crore in FY24. In the latest funding coverage, Sorin Investments said the company's revenue had grown more than fivefold since its Series A investment, supported by repeat purchases and expansion across online marketplaces and physical stores. (Sources: Business Standard).
The company's next phase of growth will depend on how effectively it translates its digital customer base into sustained sales across physical stores and new product categories.
Expanding from 25 to more than 150 stores will require investment in store operations, inventory management, customer acquisition and supply-chain efficiency. Its ability to maintain product quality and a consistent customer experience across channels will be important as the business scales.
What Is Next for The Pant Project?
Following its ₹109 crore Series B funding, The Pant Project is preparing for a larger retail footprint and a wider menswear portfolio.
Its target of expanding from 25 to more than 150 exclusive stores over the next two to three years represents a significant increase in its physical presence. The company also plans to strengthen its position in jeans, athleisure and casualwear.
The key question is whether the brand can preserve the product fit, comfort and customer experience that underpin its positioning while expanding into new categories and markets.
The funding gives The Pant Project additional capital to pursue this strategy. Its next phase will depend on disciplined execution, customer retention and the economics of its growing omnichannel business.
Read More Startup Funding News
NABVENTURES Fund II Targets ₹30 - 70 Crore Investments in Agri and Rural Businesses
Scimplify Funding 2026: $25 Million Strategic Round Led by Hitachi Ventures