Online apparel brand Turms has raised Rs 6.3 crore from angel investors. The round was 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.
The round has also seen participation from other angel investors from dealmaking platform LetsVenture and angel network AngelList India.
The fresh funds will be used by Turms to expand its product categories, hire tech talent, launch experience centres in top cities, and further invest in research and development.
Rameswar Misra, CEO and Co-founder of Turms, said, "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."
Girish Mathrubootham, Founder and CEO, Freshworks, also stated, "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."