India’s first ever performance wear fashion brand Turms which sells stain repellent, odor-resistant daily wear has raised Rs 6.3 crore from angel investors.
The round was led by Freshworks founder Girish Mathrubootham, former Reliance Retail Lifestyle president Bijou Kurien, Pepperfry founder Ambareesh Murty, OneAssist founder Subrat Pani, and former Flipkart executive Mekin Maheshwari.
Turms will use these funds to expand its product categories, hire tech talent, launch experience centers in top cities, and further invest in research and development.
“Globally most large brands are built around design, price, celebrities, and culture, but never intelligence. Our mission is to offer intelligent apparel at an affordable price. We believe that the world is moving towards functional and low maintenance apparel that can simplify our daily lives. Turms is committed to pioneering that revolution and habit formation in Indian consumers,” said Rameswar Misra, CEO and co-founder Turms.
The intelligent apparel brand offers performance wear with special properties like stain repellent, odor resistant, cooling, and wicking by applying its proprietary nanotechnology during the production process.
Also, Turms apparel need not be washed as frequently as normal clothing and requires less amount of water and detergent.
While speaking about his investment on Turms, Girish Mathrubootham, CEO and founder of Freshworks said “Digital-first brands are creating immense value globally. Young brands like Turms are disrupting the apparel industry and creating a niche market for themselves with their unique offering of intelligent apparel. The company has shown exponential growth in the last one year while maintaining quality and consistency. As a Turms consumer and an investor, I am very proud to be associated with the team since its inception,”
Other investors who participated in the round include Sumit Jain, co-founder Opentalk (ex-commonfloor), Krishnan Akhileswaran, Group CFO at Apollo Hospitals, Prabhakar Sunder, ex CFO – Voonik & Myntra and Amit Lakhotia, formerly with Tokopedia & Paytm.
Founded in December 2016, Turms has seen significant traction in the last one year from new and repeat consumers and is on the path to break-even in the next 6-9 months.
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