Zymrat, an India-based innovation-led D2C performance wear brand, has raised USD 500K in a Seed funding round led by Dominor Investment Holding LLP on 20 January 2022.
Investors: Dominor Investment Holding LLP led the latest funding round with participation from Anicut Angel Fund, Angel investors such as Aditya Somani, Rashmi Daga, Founders – Fresh Menu, Mahesh Agrawal, Mridumesh Rai, Business Director – Alshaya Group), Ankit Somani and Sunil Goyal, Founders- Ladderup Finance.
The Objectives behind the funding: The company plans to deploy the current proceeds towards category extension, accelerating product innovation, hiring talent, and building awareness and visibility through brand building.
Founded in 2018 by Ujjawal Asthana and Ankita Riva, Zymrat is an innovation-led D2C performance wear brand with technology at its core. The startup provides a wide range of products such as training and running t-shirts, shorts, joggers and outerwear for men. Zymrat is challenging the status quo of India’s overpriced & underserved performance wear market by being at the forefront of fabric innovation, proprietary technology development, and unmatched community experience. The company have an easy return and 100% refund policy with cash on delivery option for payment.
The startup claims to have a 40% repeat rate and is witnessing 5x more demand for its products. According to Ujjawal Asthana, Co-Founder of Zymrat, the company plans to launch 30 new SKUs across categories in the coming few months.
What the Founder has to say:
Ujjawal Asthana, Co-Founder & CEO, Zymrat, said, “The activewear and the 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 per cent 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.”
What the Investors have to say:
Tushar Singh, Managing Partner, Dominor Investments Holding LLP, said, “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.”
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.”
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