Direct-to-consumer athleisure brand Cava Athleisure has entered discussions to raise around Rs 35 crore in a new funding round, according to people familiar with the matter. The round is expected to see participation from Marico’s family office Sharrp Ventures, along with other investors. If completed, this would mark Cava’s largest capital raise to date.
The proposed funding comes nearly two years after the brand last raised capital. In January 2024, Cava secured approximately Rs 8–10 crore from investors including Spring Marketing Capital. The company and Sharrp Ventures declined to comment on the ongoing discussions.
Founded by sisters Ria and Shreya Mittal when they were just 20 and 18 years old, Cava was born out of a personal need. Regular workouts exposed a gap in the Indian market for premium, functional athleisure that balanced performance with everyday wearability. Drawing on their family’s three-decade-long experience in garment manufacturing, the founders built Cava as a brand focused on comfort, confidence, and clean design, while maintaining technical functionality.
Cava operates in an increasingly crowded athleisure market that includes players such as Cult.fit, Boldfit, and BlissClub, though it remains smaller in scale compared to these established brands. The company primarily targets urban consumers and Gen Z audiences, many of whom discover the brand through social media platforms where fitness, lifestyle, and fashion content continue to gain traction.
According to data from Tracxn, Cava reported revenues of around Rs 2 crore in FY24. Industry observers say the brand has seen improved traction since then, driven by rising health awareness, increased participation in fitness activities, and growing acceptance of athleisure as everyday wear.
The fresh capital, if finalised, is expected to support product expansion, brand building, and deeper penetration across digital channels. As India’s D2C fashion and fitness ecosystem matures, early-stage brands like Cava are increasingly looking to scale with institutional backing while competing in a market shaped by fast-moving consumer preferences and social-led discovery.
