Bengaluru-based Cava Athleisure has finalized a Rs 40 crore Series A funding round led by Sharrp Ventures, valuing the youth-focused brand at Rs 215 crore. Attracting participation from V3 Ventures and Spring Marketing Capital, this capital infusion marks a transition from a digital-first experiment to a full-scale omnichannel operation. Historically women’s-wear dominant - with 95 per cent of revenue currently derived from this segment - the firm is utilizing the fresh equity to scale its newly launched men's category and aggressive offline footprint.
Orion Mall debut and hyperlocal manufacturing strategy
The brand is set to inaugurate its first physical flagship next month at Orion Mall, Bengaluru, a 1,200 sq. ft. space designed to act as a high-touch point for its Gen Z and millennial demographic. With a capital expenditure of Rs 40 lakh per store, the founders, Ria and Shreya Mittal, intend to open up to five locations in Bengaluru within the 2026 calendar year. To support this growth, Cava is establishing a proprietary manufacturing facility in its home city, capable of producing 35,000 units per month. This backward integration aims to reduce lead times and improve quality control over its specialized ADPT fabric and sustainable materials, such as BCI-certified cotton and recycled polyester.
Projecting five-fold revenue growth by FY27
Financially, Cava is maintaining a disciplined trajectory, currently operating at an EBITDA profitability of 2–5 per cent. Following a reported revenue of Rs 8 crore in FY24, the brand expects to reach Rs 40 crore by March 2026-end, with a target of Rs 130 crore for FY27. This growth is underpinned by strong unit economics, with an average order value of Rs 2,300 successfully offsetting a first-time customer acquisition cost (CAC) of Rs 1,100. By diversifying its sales channels - where direct-to-consumer (D2C) currently leads at 65 per cent - into quick commerce and physical retail, Cava is positioning itself as a leaner, more agile competitor to established players like BlissClub and HRX.
Founded in 2022, Cava Athleisure is an Indian D2C brand specializing in functional, design-led apparel for Gen Z and millennials. Operating from Bengaluru with a focus on sustainable manufacturing, the firm aims for a Rs 130 crore revenue target by 2027 through a strategic mix of physical retail, marketplaces, and quick commerce.
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