Bengaluru-based online cotton menswear startup Northmist has raised an undisclosed amount of funds from an angel investor, Prashant Jaiswal.
This marks the first investment by Jaiswal in an online brand, who owns a lingerie manufacturing unit in Delhi and a wooden spoon facility in Lucknow.
Northmist was founded by Arijit Mazumdar and Smrity Gupta in July 2018. The brand manufactures and sells quality organic cotton made men’s T-Shirts under various categories including round neck and polos at affordable prices.
The brand claims to source organic cotton, grown without toxic pesticides, pesticides, and GMOs, in order to provide a completely eco-friendly product.
According to Northmist’s website, with every T-shirt, it saves 1,750 glasses of drinking water, 165 gm of pesticides, and 60 watts of power for an hour.
The brand is looking to raise ₹2 crores, in order to add new categories to its product line such as shirts and denims. Northmist has sold over 400 t-shirts and is more bulk orders in the pipeline.
Indian fashion apparel market for 2017-18 was pegged at $55 million, with the menswear segment accounting for 41% of the market, according to Northmist.
In the broader fashion domain, Myntra, Jabong, Koovs, FashionAndYou, and Limeroad are amongst the leading online fashion retailers in India. With the fashion market expected grow, more fashion brands will be looking to leverage the growing opportunity.