The new capital will be deployed to expand the company’s core operations, including fabric printing, sublimation paper business, machine trading, and ink supply.
True Colors has successfully closed a key funding round with participation from Niveshaay Hedgehogs Fund and Finavenue Capital Trust – Finavenue Growth Fund. The funding underscores investor confidence in the company’s innovation-led, sustainability-aligned approach and its strong recurring revenue model.
A fully integrated digital textile printing company, True Colors is witnessing rapid growth. Revenues have surged from Rs 800 million in FY22-23 to Rs 1.60 billion in FY23-24 and further to Rs 2.33 billion in FY24-25. The firm expects to approach Rs 3 billion in topline revenue for FY25-26.
The new capital will be deployed to expand the company’s core operations, including fabric printing, sublimation paper business, machine trading, and ink supply. It will also support the recent acquisition of True Colors Print, strengthening vertical integration. Additionally, the investment enhances financial flexibility and profitability, enabling improved process efficiencies and long-term growth planning.
“This investment reaffirms our belief that India is ready for a manufacturing revolution led by technology, customisation, and sustainability. We are grateful to our new partners for backing our vision. This capital allows us to scale with purpose, continue innovating across our product lines, and stay deeply aligned with the evolving needs of our customers, both in India and across global markets,†said Satish Panchani, CEO & Co-founder of True Colors.
Though the funds are not earmarked specifically for green manufacturing, the company plans to scale its sustainability efforts. It currently fulfils over 20 per cent of its energy needs via solar power and aims to increase this to 40 per cent in the coming quarters.
True Colors intends to expand its domestic and export footprint, invest in R&D, and meet growing demand for customised textile solutions. With over 1,200 installations across India, a team of over 650 professionals, and the country’s largest digital textile printing capacity, True Colors is well-positioned to accelerate growth in a digitising and sustainability-focused market.