Funding · Commerce & Consumer Brands

Cava Athleisure raises INR 40 Cr in Series A led by Sharrp Ventures

By Startup Enthusiast · 26 January 2026

What they do

Cava Athleisure sells function-first activewear like leggings and jackets to young women and men

The company raised INR 40 Cr at a post-money valuation of INR 215 Cr from Sharrp Ventures

Funds will support new product development and expansion into physical retail stores and online marketplaces

Cava Athleisure raised INR 40 Cr in its Series A funding round.
Sharrp Ventures, the family office of Marico chairman Harsh Mariwala, led the investment with INR 21 Cr.
The company achieved a post-money valuation of INR 215 Cr following this transaction.
V3 Ventures participated as an investor in this latest round of funding.
Spring Marketing Capital, an existing backer, also participated in the Series A round.
Previous seed funding included $1.14 Mn raised in June 2024 from Spring Marketing Capital.
Earlier infusions totaled approximately INR 8-10 Cr from Spring Marketing Capital and others in January 2024.
The co-founders are sisters Ria Mittal (CEO) and Shreya Mittal (CMO).

The founders started the business while still in their teens in 2022.
They leverage a family legacy of 30+ years in garment manufacturing.
The Indian athleisure market is projected to reach $27 Bn by 2033.
Growth is driven by post-pandemic hybrid work trends and shifting consumer preferences.

Cava operates as a direct-to-consumer (D2C) athleisure brand based in Bengaluru.
It targets Gen Z and Millennials aged 15–30 with a focus on women's apparel.
Products include jackets, leggings, sports bras, co-ord sets, joggers, and tops.
The brand uses BCI cotton and recycled polyester for sustainable material sourcing.
A key selling point is India-relevant fits designed for local body types and climate.
Cava utilizes a signature ADPT fabric engineered for superior stretch and durability.
The company manages its own production facility overseeing design and quality control.
Monthly revenue run rate stands at INR 5.5 Cr according to recent reports.
Projected revenue for FY26 is set at INR 40 Cr.

Sharrp Ventures (lead) — Family office of Marico chairman Harsh Mariwala and MD Rishabh Mariwala.
V3 Ventures (co-lead) — Founded by Arjun Vaidya; described as an early customer and supporter.
Spring Marketing Capital (existing) — Existing backer that participated in previous seed and earlier infusions.

Product: D2C athleisure brand
Customers: Young, fitness-conscious women and men looking for versatile everyday apparel.
How it makes money: Sells athleisure apparel through its direct-to-consumer website, quick commerce apps, and physical retail stores.
What sets it apart: Designs function-first, India-relevant fits using sustainable fabrics including BCI cotton and recycled polyester blends.