Cava Athleisure, the Bengaluru-based startup redefining everyday performance wear, has raised ₹40 crore in its Series A funding round. The round was led by Sharrp Ventures, the family office of the Mariwala family (promoters of Marico Ltd), which contributed ₹21 crore.
The round saw participation from V3 Ventures—founded by Arjun Vaidya, an early customer and supporter of the brand—and existing investor Spring Marketing Capital. This infusion values Cava at ₹2.15 billion (₹215 crore), a significant leap for the brand founded just four years ago.
The Sister-Duo Disrupting the Athleisure Gap
Founded in 2022 by sisters Ria Mittal (CEO) and Shreya Mittal (CMO), Cava was born out of a personal frustration: the lack of premium, functional athleisure tailored specifically for the Indian body type and climate. Leveraging their family’s 30-year legacy in garment manufacturing, the duo (who started the venture while still in their teens) built a brand that prioritizes fabric innovation and “India-relevant” fits.
What sets Cava apart:
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Gen Z & Millennial Focus: High brand recall among younger consumers who seek versatile apparel for work, gym, and social life.
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Fabric Innovation: Development of the signature ADPT fabric, engineered for superior stretch and durability.
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Capital Efficiency: The brand has used only ₹9.5 crore of capital to date, scaling to an impressive Monthly Recurring Revenue (MRR) of ₹5.5 crore.
Roadmap: From Digital-First to Omni-Channel
With a projected revenue of ₹40 crore for FY26, Cava intends to use the Series A proceeds to transition into a truly omni-channel player. Key deployment areas include:
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Product Expansion: Launching new categories beyond their current leggings, sports bras, and co-ord sets.
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Omni-channel Presence: Expanding into physical retail and deepening marketplace presence.
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Leadership Building: Hiring senior talent to steer the brand through its next phase of exponential growth.
“Partnering with Sharrp Ventures gives us a long-term partner with deep consumer expertise as we scale responsibly. Our products are built for the fast-paced lifestyle of the modern Indian consumer,” said Ria and Shreya Mittal, Co-founders.
Investor Confidence: Backing “Grit and Strategy”
Rishabh Mariwala, Managing Director of Sharrp Ventures, praised the founders’ disciplined execution. “The founders have shown immense grit and strategic thinking at a young age to carve out a distinctive brand. We believe the company is well-positioned to create a large outcome in India’s athleisure segment.”
Sharrp Ventures’ portfolio includes iconic consumer names like Mamaearth, Nykaa, and mCaffeine, signaling high expectations for Cava’s trajectory.
By: Vanshika Tayal
