India’s largest and first intelligent apparel brand Turms has announced that it has closed an Rs. 6.3 crore angel round led by Freshworks founder Girish Mathrubootham, former Reliance Retail Lifestyle President Bijou Kurien, Pepperfry founder Ambareesh Murty, OneAssist founder Subrat Pani, and former Flipkart executive Mekin Maheshwari along with angels from LetsVenture & AngelList India. Other marquee angels who participated in the round include Sumit Jain, co-founder Opentalk (ex-commonfloor), Krishnan Akhileswaran, Group CFO at Apollo Hospitals, Prabhakar Sunder, ex CFO - Voonik & Myntra and Amit Lakhotia, formerly with Tokopedia & Paytm.
Turms will use these funds to expand its product categories and range, hire tech talent, launch experience centers in top cities, and further invest in research and development.
“Globally most large brands are built around design, price, celebrities, and culture, but never intelligence. Our mission is to offer intelligent apparel at an affordable price. We believe that the world is moving towards functional and low maintenance apparel that can simplify our daily lives. Turms is committed to pioneering that revolution and habit formation in Indian consumers,” said Rameswar Misra, CEO and co-founder Turms.
Founded in December 2016, Turms offers intelligent apparel with special properties like stain repellent, odor resistant, cooling, and wicking by applying its proprietary nanotechnology during the production process. Turms apparel does not need to be washed as frequently as normal clothing and requires less water and detergent. Turms merchandise range includes jeans, t-shirts, shirts and trackpants for men and t-shirts and leggings for women. These clothes are high on comfort and low on maintenance.
"Digital-first brands are creating immense value globally. Young brands like Turms are disrupting the apparel industry and creating a niche market for themselves with their unique offering of intelligent apparel. The company has shown exponential growth in the last one year while maintaining quality and consistency. As a Turms consumer and an investor, I am very proud to be associated with the team since its inception,” said Girish Mathrubootham, founder and CEO, Freshworks.
Turms has seen significant traction in the last one year from new and repeat consumers and is on the path to break even in the next 6-9 months.