Cava Athleisure has raised Rs 40 crore in a Series A funding round led by Sharrp Ventures, which invested Rs 21 crore. V3 Ventures and existing investor Spring Marketing Capital also participated in the round.
Following the fundraise, Cava is valued at Rs 215 crore. The proceeds will be used to expand product lines, strengthen brand-building efforts, scale omnichannel distribution, and build out the leadership team.
According to ET Retail, around 65% of Cava’s revenue comes from its direct-to-consumer website, while marketplaces, led by Myntra, contribute about 30%. Quick commerce and B2B channels, including Zepto, account for the remaining share.
Cava is also preparing to enter offline retail. The brand will open its first physical store next month at Orion Mall in Bengaluru, spanning 1,200 sq ft. “This calendar year is about getting four to five stores right, primarily within Bengaluru, and then doubling down next year,” the founders said.
Founded in 2022 by sisters Ria and Shreya Mittal, Cava Athleisure operates as a direct-to-consumer premium apparel brand focused on everyday and athleisure wear for men and women. Its products are designed for comfort and versatility, catering to consumers seeking clothing that works across workouts, work, and daily routines.
The company’s portfolio includes leggings, joggers, and tops made using BCI cotton and recycled polyester. It primarily targets Gen Z and millennial consumers aged 15–30.
Cava had earlier raised $1.14 million in a seed round in June 2024 from Spring Marketing Capital and other investors. The company operates its own production facility, handling design, pattern-making, and quality control to ensure consistent quality and India-specific fits.
The startup expects to close FY26 with Rs 40 crore in revenue, riding on growing demand in India’s premium athleisure segment, where brands are increasingly blending sustainability with function-led design.
