Kusha Kapila-founded Underneat raises $6 million to scale operations

Underneat, a shapewear and innerwear brand co-founded by content creator Kusha Kapila and fashion entrepreneur Vimarsh Razdan, has raised $6 million in a pre-Series A funding round led by Fireside Ventures.

Existing investor Ghazal Alagh, co-founder of Honasa Consumer Limited, continues to be associated with the brand.

Founded in April 2025 and headquartered in Gurugram, Underneat operates in India’s D2C fashion segment as a mass-premium innerwear and shapewear brand designed specifically for Indian women. Its product portfolio spans shapewear, innerwear, and accessories, with an emphasis on fit, comfort, and affordability.

The startup plans to deploy the fresh capital to scale operations and strengthen its distribution network across multiple Indian cities.

Underneat claims to have crossed an annual run rate of over Rs 150 crore and achieved EBITDA positivity within eight months of launch.

“Our customers are crafting this journey with us,” Kapila and Razdan said, adding that continuous feedback from users has played a central role in refining product design and fit. The founders said the company now serves a community of over 2,00,000 customers.