Backed by Sharrp Ventures and others, the Gen Z-focussed D2C brand plans to scale product lines, boost leadership, and ride India’s $27 Bn athleisure wave.
Cava Locks In INR 40 Cr Series A to Scale Athleisure Brand
Cava Athleisure, a Bengaluru-based D2C women’s wear brand, has raised INR 40 Cr ($4.4 Mn) in a Series A round, pushing its valuation to INR 215 Cr ($23.3 Mn).
- The round was led by Sharrp Ventures, investing INR 21 Cr, with V3 Ventures and Spring Marketing Capital contributing the rest.
- The startup, founded in 2022 by siblings Ria and Shreya Mittal, plans to use the capital for product development, leadership hiring, marketing, and omnichannel distribution.
“Partnering with Sharrp Ventures gives us a long-term partner with deep consumer expertise,” said the cofounders in a joint statement.
Is India’s next big activewear brand being stitched together already?
Riding India’s Athleisure Boom
Cava claims to be clocking a monthly revenue run rate of INR 5.5 Cr, a notable feat just two years into operations.
- The brand offers jackets, leggings, sports bras, and other versatile apparel catering to Millennial and Gen Z women.
- It competes with both established players like Decathlon and Jockey, and emerging Indian brands such as Heelium and Chkokko.
The timing couldn’t be better: India’s athleisure market is projected to hit $27 Bn by 2033, driven by:
- Post-pandemic shifts toward hybrid work and comfort-first dressing
- Social media-fuelled fitness and fashion trends
- Rising health consciousness and demand for multifunctional wear
Why just dress to impress when you can stretch, sweat, and slay in it?
Strategic Capital Meets Growing Consumer Appetite
The investment signals rising confidence among VCs in the performance wear category—especially those with a digital-first playbook.
- Sharrp Ventures, the family office of Marico Chairman Harsh Mariwala, brings deep FMCG and consumer brand expertise.
- The brand is expected to scale responsibly, blending brand storytelling with functional product depth.
The D2C boom continues to power fashion upstarts that know how to speak directly—and authentically—to the consumer.
In recent months, similar moves have emerged: Virat Kohli-backed Agilitas received INR 40 Cr, and menswear label XYXX raised INR 29.8 Cr last year.
Will the Cava playbook—female-first, design-led, and performance-driven—set it apart in this crowded sprint?
TL;DR
Women’s athleisure startup Cava raised INR 40 Cr in Series A funding at a INR 215 Cr valuation. Led by Sharrp Ventures, the round will support product expansion, leadership hiring, and omnichannel rollout. With a growing customer base and INR 5.5 Cr monthly revenue run rate, Cava is betting big on India’s $27 Bn athleisure boom.
AI summary
- Cava raises INR 40 Cr from Sharrp Ventures, V3 Ventures, and Spring
- Valuation stands at INR 215 Cr post-Series A
- Plans to expand product line, hire leadership, grow omnichannel presence
- Currently clocks INR 5.5 Cr monthly revenue run rate
- Competing in India’s fast-growing $27 Bn athleisure market
