Smart Textile Maker Turms Expands Angel Funding by Rs. 2 Crore

Company Performance

Smart Textile Maker Turms Expands Angel Funding by Rs. 2 Crore

Angel round of funding for the Bangalore-based Turms was recently expanded by Rs. 2 crore. Turms is a smart apparel maker that specializes in sale of stain repellent, odour resistant daily wear. Turms had roped in a bunch of Angel investors that included Flipkart executive Mekin Maheshwari, to raise over Rs. 6 crore in previous October. Its further expansion plans coincides with the time the company‘s annual revenue hits Rs. 24 crores. The most recent capital infusion scales up the total fund raise to Rs. 8 crore. Myntra co-founder- Raveen Sastry, former Google executive Sree Unnikrishnan, FarEye co-founder - Gautam Kumar, Rahul Garg and Atul Gupta of PremjiInvest Partners and former Flipkart executive Sanjay Ramakrishnan are the contributors for the additional funds. The company aims at investing in its brand, enhancing its product and technology team and launching offline experience centres. Rameswar Misra, co-founder and CEO Turms said, “We have a robust growth rate of 10 to 15 percent per month, Repeat orders we get are also high. We have feedback that consumers find it compatible to purchase our technology and products. In wake of this, we have planned launch experience centres that will help us reach 100 million shoppers more.”