Bummer, Ahmedabad-based new-age essential wear company, today announced that it has raised $180 K from Singapore-based BeeNext. The company is a new-age, essential wear firm focussed on providing the softest innerwear solutions designed to make India’s 40 cr millennials good & comfortable about themselves.
Bummer’s stated mission is to target millennials and help them feel good, comfortable and confident – through the softest fabric known to mankind, made from ultrasoft micromodal fibres from Beechwood trees.
Sulay Lavsi, Founder – Bummer, said, “The funding from BeeNext comes at an exciting time as we seek to expand our markets to embrace more millennials and strengthen our backend logistics and delivery capabilities. The funding will be used to offer a wider variety of products and further build our team. At Bummer, we are focussed on disrupting the innerwear space by offering sustainable, eco-friendly innerwear in bold colours and funky designs to millennials. Our products use 47 percent less water in manufacturing, have 18 percent reduced carbon footprint over cotton, and save 359 hours of energy resources over cotton. With 47 percent of our users being from non-metro cities, 23 percent revenue from repeat customers, we are focussed on youth and millennials. As 67 percent of our users are from the 18-34 age group, we foresee a stronger surge in demand from this segment going forward. The funding comes at a time when we seek to deepen our commitment sustainability and delivering eco-conscious products in keeping with millennial aspirations”.
Rahul Maheshwari, Investment Team, BeeNext, said, “Bummer has successfully coupled comfort with quirky designs in a segment which has remained boring for ages, making it a destination for GenZ!”
(To receive our E-paper on WhatsApp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)