Between the exciting episodes of Shark Tank India, Sony TV. Yet another ingenious business Idea from the Shark Tank India Entrepreneurs list was innerwear from Bummer. Bummer successfully raised an investment of 75 lakhs against total equity of 7.5 percent.
The founder of the company ‘Sulay Lavsi’ demanded an investment of 75 Lakhs against four percent of the equity in bummer. The final deal was made possible after a few dominant counter offers of 75 lakhs for a total of 7.5 percent equity approving equal stakes of Shark Aman Gupta, Founder, Boat Electronics & Namita Thapar, CEO of Emcure Pharmaceuticals.
About The Bummer
The bummer is an Ahmedabad-based company founded in 2020 by 27 years old solo entrepreneur Sulay Lavsi. The company produces sustainable and eco-friendly clothing for both men and women. The bummer is a company that tries to disrupt the innerwear market by making it more fun and comfortable for millennials and customers alike.
The Shark Tank India Startup previously accomplished a total sales of Rs 15 lakhs in November 2021 from their website. They expect to make it fourfold in the next four months.
The Shark Tank India entrepreneur ‘Sulay from Ahmedabad’ also secured prior investors Beenext from Singapore, and 4 Angel Investors participated in the first round of funding for the company. The investment amount was 1.9 million USD (Rs 9 Crores).
Problem Solved By Bummer
The company produces undergarments in exclusive designs & bold colours made from the softest material known to mankind utilizing micro modal fibers. These factors make the products very lightweight and comfortable to wear.
The bummer is working on a product that will make people feel good inside their clothes, which will help them break out of the traditional innerwear market. Bummer aims to bring out quirky, colourful, comfy innerwear options for youthful generations.
Assuming the competition is exceptionally tough in the innerwear market. We wish the Shark Tank India startup Bummer a quotient of success in targeting youngsters’ pants.