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Bengaluru-based performance wear brand TechnoSport has raised Rs 175 crore from equity fund A91 Partners in its first external fundraising round.

TechnoSport, which offers sportswear and activewear, plans to use the funds to ramp up its manufacturing capabilities and focus on digital branding and marketing. The company also plans to expand its sales and distribution network. TechnoSport is currently present in 15 states across more than 5,000 active retailer touchpoints. 

“With this support, we are poised to scale our operations, enhance our product offerings, significantly increase our user base, drive brand building, and propel our digital acceleration efforts,” said Puspen Maity, CEO of TechnoSport.

Sumit Santhalia, Co-founder & Director at TechnoSport said, “With plans to establish 100 exclusive brand outlets in the coming years, we are poised to expand our accessibility across the nation.”

Established in 2018, A91 Ventures is a domestic investment firm that specialises in late venture and early growth investments. It primarily focuses on sectors such as consumer, healthcare, technology, and financial services. It portfolio comprises brands such as Sugar Cosmetics, Giva, Paper Boat, and Blue Tokai Coffee. 

The Indian sports apparel market was valued at $673.34 million in 2022 and is expected to

reach $1926.10 million by 2029, growing at a CAGR of 16.2%.