- Strategic Expansion: Bummer plans to strategically utilize INR 9.25 Crore funding to expand
into Tier 2, 3, and 4 cities, bolstering its presence in emerging markets nationwide. - Diversified Revenue Streams/ Multi-Channel Offline Presence: Bummer aims to establish
10,000+ offline touchpoints across India in the next 5 years, leveraging Exclusive Brand
Outlets, Multi-Brand Outlets, and Large Format Stores to create diversified revenue streams. - Team Development: A portion of the funding will be allocated to team expansion and skill
development, enhancing workforce expertise to address market challenges and drive
sustained growth.
8th March 2024, Nationwide: Bummer, a young and fashionable innerwear company, announced
that it has successfully raised 9.25 Crores in a Pre-Series A1 funding round. The funding spearheaded
by Gruhas Collective Consumer Fund marks one of their first investments as a fund. Further
strengthening the strategic support is the continued backing from Fluid Ventures, an established
investor in Bummer since December 2022. This sustained commitment underscores the company’s
promising growth trajectory.
This funding round is a pivotal step in positioning the brand as a formidable $100 million company
within the next 5 years. Expecting to generate 50% of revenues from key cities like Ahmedabad,
Indore, Hyderabad, Chandigarh, Bhopal, and Jaipur, the focus is on amplifying brand awareness and
expanding into Tier 2, 3, and 4 cities across India. Emphasizing its steadfast commitment to establish
a robust marketing foundation and an omni-channel brand presence through offline expansion, with
10,000+ touchpoints nationwide, including EBOs, MBOs, and LFSs, Bummer is focusing on
sustainable growth to reach EBITDA breakeven within 12 months. It is actively seeking to recruit
seasoned key management personnel (KMPs) to drive expansion into new channels, including
offline retail.
While Bummer’s immediate focus remains on India for the next 24 months, the vision extends
beyond borders, as it views South-East Asia and the Middle East as potential global markets for the
product. The brand will conduct smaller, intermittent pilots in the global market to gauge potential
opportunities. Currently, its global expansion efforts will be conservative, with less than 5% of the
budget allocated to these pilots.
Sulay Lavsi, the Founder and CEO of Bummer, “We’re embarking on an elevating chapter for
Bummer, and this Pre-Series A1 funding round marks a significant milestone in our journey. The
support and leadership from Gruhas Collective Consumer Fund and Fluid Ventures fuel our vision of
expanding with a skilled managerial team. In an industry marked by minimal growth and dominated
by a few major players for decades, we see ourselves as a disruptor of this category. Together, we are
committed to propelling the brand’s growth with skilled teams, a strong trustful brand image and
we’re set to revolutionize this stagnant category, elevating its fashion appeal along with
sustainability.”
Commenting on the strategic investment in Bummer, Abhijeet Pai, Co-founder of Gruhas & General
Partner- GCCF, expressed enthusiasm, stating, “Team Bummer has crafted a brand that resonates
with the young at heart and comfort first consumer in a rapidly evolving domain: the underwear and
loungewear space. Bummer is disrupting the longstanding monopoly held by a handful of players in
the men’s underwear Category. We believe that Bummer’s innovative approach, coupled with its
quality products and edgy new-age design is perfectly positioned to capture the Gen-Z market. With
our first investment from the GCCF fund, we look forward to supporting brands that actively shape
the future of their respective industries.”
Vijay Subramaniam, Founder and Group CEO of Collective Artists Network, emphasized the
significance of the partnership, stating “At Collective Artists Network, we are committed to being the
torchbearers of pop culture in India. Bummer’s approach resonates harmoniously with our ethos, and
we firmly believe that the creator economy is poised for explosive growth. We are enthusiastic about
contributing to their narrative in the consumer space and shaping the future landscape of creative
expression.”
With the newly secured funds, Bummer is ready for an exciting phase of growth, furthering its
mission to provide comfortable, sustainable, and fashionable choices to its audiences.
About Bummer:
Bummer, founded in 2020 by Sulay Lavsi, is a game-changer in the Indian innerwear industry
featured on Shark Tank India – Season 1, this D2C startup redefines innerwear with ultra-soft,
eco-conscious comfort wear. Crafted from BeechWood Trees’ micro modal fiber, Bummer blends
comfort, durability, and style. Breaking industry norms, it embraces bold prints and a vibrant online
presence. Embrace Bummer – where comfort meets creativity, challenging norms and celebrating
individuality.
About Gruhas Collective Consumer Fund (GCCF):
GCCF is a VC fund that brings a fresh approach to consumer ventures with unparalleled insight and
targeted capital infusion. The fund is a partnership between Gruhas and Collective Artists Network.
Gruhas’ expertise complements the creative amplitude of Collective Artists, offering a multifaceted
platform for ventures to grow, connect, and make an indelible mark. They are focused on early-stage
investments in the new-age consumer-focused brands, building for India.
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