ISN Exclusive: Athleisure D2C startup Cava Athleisure begins talks to raise Rs 35 crore in funding

D2C brands are creating a rage. The ones gaining popularity on social media platforms like Instagram and more are especially in focus.

Cava, an athleisure brand for women and men, is in talks to raise Rs 35 crore from Marico’s family office – Sharrp Ventures – and others in a fresh funding round, sources privy to internal developments informed IndianStartupNews (ISN).

This will be its largest and latest round after some infusion in January 2024. The company has previously raised around Rs 8-10 crore from Spring Marketing Capital and others.

Cava and Sharrp Ventures chose not to reply to ISN’s queries.

The brand, started by sisters at the age of 20 and 18 years, Ria and Shreya Mittal found comfort in daily workouts, and frustration in the lack of premium, functional athleisure in India. That gap became their spark.

Backed by their family's 30+ years of garment expertise, they built Cava - a brand that blends comfort, confidence, and performance seamlessly with style and function, as per the company’s website.

The brand competes with Cult.fit, Bold fit, Bliss Club and more in the athleisure space, although is much smaller in scale.

In FY24, it clocked Rs 2 crore in sales, as per Tracxn, a private markets data provider, but has surely grown since then thanks to a score of people, especially Gen Zs getting fitter by the day.