The Mumbai-based company plans to utilise the funds to accelerate fabric development, enhance product innovation and expand its offerings across categories, cofounder Raena Ambani told ET.
Terractive, founded in 2023 by sisters Raena Ambani–a sports engineer and national level sprinter–and Rahee Ambani-Choksi, specialises in in-house fabric innovation. Its fabrics have properties such as cotton-like softness, anti-odour and anti-microbial qualities.
“We see ourselves as a fabric innovation company building for the active lifestyle that people have today…With this funding round, we want to scale up our SKUs, by getting more fabrics and products within the same fabric as well,” Raena Ambani said.
Terractive has developed proprietary fabrics like Terrasoft, which combines a cotton-like feel with anti-odour properties, and Coolknit, which offers a cooling effect and a premium aesthetic.
The brand claims a customer base of over 25,000, with month-on-month revenue growth of 25%.
Discover the stories of your interest
“The activewear segment in India is poised for tremendous growth, and Terractive is a brand that stands out with its innovation-led approach,” said Shuchi Pandya, principal at Fireside Ventures. “With a sharp focus on fabric innovation and customer-centric design, Terractive is positioned to revolutionise the activewear category.”The Indian fashion and apparel market is projected to reach $105.5 billion in revenue by 2024 and grow at a compound annual growth rate (CAGR) of 3.35% through 2029, the company said.
India’s activewear segment has also seen increased competition as brands strive to meet evolving consumer demand. Emerging players in the space include BlissClub, Silvertraq and Pace Active.
BlissClub had raised $15 million in 2022 in a funding round led by Eight Roads Ventures and Elevation Capital.
