Turms, Internet first intelligent apparel brand, has raised Rs 2 crore in fresh funding from angel investors. This funding comes after the brand hit Rs 24 crore revenue run rate, which made it one of the fastest growing internet first apparel brands.
The round has seen participation from Myntra's Co-Founder Raveen Sastry, ex-Googler Sree Unnikrishnan, FarEye's Founder Gautam Kumar, PremjiInvest Partner Rahul Garg & Atul Gupta, and ex-Flipkart's Sanjay Ramakrishnan.
Rameswar Misra, CEO and Co-Founder, Turms, said, "Our steady 10-15% monthly growth rate, with high repeats, gives us the conviction that consumers are resonating with our technology and products."
"For reaching the next 100 million shoppers, we plan to launch experience centres and be on the top marketplaces," he added.
The Bengaluru-based company is now planning to set up offline experience centers in top Indian cities in order to increase brand penetration.
Haresh Balani of PremjiInvest stated, "Gen Z is incrementally focused on consuming minimalistic yet meaningful apparel. Turms is creating a new category where the world of apparel will move."