Shark Tank fame D2C Innerwear brand Bummer has upraised Rs. 9.25 crore funding directed by Gruhas Consumer Fund. Also the round saw participation from Fluid Ventures Fund. The regulatory filing subjected to the company, the Board members at Bummer has reached a special resolution to issue 2, 16, 121 pre-series A1 CCPS at an issue praise of Rs. 428 each to lift Rs. 9.25 crore.

In the interim, Gruhas Consumer Fund infused Rs. 8 crore and Fluid Ventures Fund invested Rs. 1.25 crore in the funding round. Gruhas Consumer Fund is a venture capital which was co-founded by Nikhil Kamath & Abhijeet Pai. According to the company filings, the startup will utilize the funds to extend & build up its offerings.

Through this fresh acquisition of funding, the Nikhil Kamath founded Gruhas Consumer Fund became the biggest external stakeholder with 17.3 percent through chasing the other competitors such as Beenext Asia, Fluid Ventures & Thapar Vision LLP. Sulay Lavsi, the founder & CEO of Bummer acquires 45.97 percent of the company.

Established in 2019, the D2C inner ware brand startup, Bummer offers men & women with comfort wear & innerwear. The startup proudly publicizes that their manufacturing process of products uses 47 percent less water in order to reduce the carbon footprints by 18 percent.

According to the estimates shown by sources related to this matter, the startup has valued at around Rs. 46. Crore ($5.6 million) after the allotments. Earlier to this, Bummer had lifted Rs. 180K from Singapore-based Beenext and Rs. 75 lakhs on Shark Tank India show directed by Aman Gupta, Co-Founder & CMO, boat & Namita Thapar, CEO, Emcure Pharmaceuticals.