Ø Funding will be used to expand markets and grow user base
Ø Build Tech capabilities and deepen product-centric research
Ø Also to widen relationships with user communities & customers
Bummer, the 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. The Bummer range of innerwear essentials is the result of 2 years of intense research to develop the softest & most sustainable fabric possible and aims to disrupt the industry with a palette of colourful patterns & designs.
Speaking on the occasion, Mr 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 & 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% less water in manufacturing, have 18% reduced carbon footprint over cotton, and save 359 hours of energy resources over cotton. With 47% of our users being from non-metro cities, 23% revenue from repeat customers, we are focussed on youth and millennials. As 67% 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”.
Commenting on the funding, Mr 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! With new prints dropping several times a year, Bummer fans can’t wait to get their hands on them. I’m very excited to see Bummer make a dent in the $ 6 Bn lounge wear market!”
Bummer is an Ahmedabad-based innerwear company, focussed on delivering eco-friendly, Sustainability focussed and high quality products for both genders. The company’s products, targeted at millennials, are made exclusively from micromodal fibres and the softest material known to mankind, with each pair weighing less than 60 gm. An ecologically and ethically conscious brand, Bummer is seeking to disrupt the staid innerwear market by enabling the millenials and customers to feel more good, comfortable and conscious amongst themselves.