Kusha Kapila and Vimarsh Razdan's Underneat Raises USD 6 Mn Pre Series A Funding The pre Series A round was led by Fireside Ventures, with existing investor Ghazal Alagh, co-founder of Honasa Consumer, continuing her association with the brand.
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Underneat, a shapewear and innerwear brand co-founded by content creator Kusha Kapila and fashion entrepreneur Vimarsh Razdan, has raised USD 6 million in a Pre-Series A funding round led by Fireside Ventures.
Existing investor Ghazal Alagh, co-founder of Honasa Consumer Limited, continues to be associated with the brand.
The brand plans to use the fresh capital to scale its operations and strengthen distribution across multiple Indian cities.
The funding comes at a time when Underneat has shown rapid early growth in India's direct to consumer fashion space. Launched in April 2025, the brand has crossed an annual run rate of over INR 150 crore and has achieved EBITDA positivity within eight months of operations.
Underneat positions itself as a mass premium innerwear and shapewear brand designed specifically for Indian women. Its product portfolio includes shapewear, innerwear, and related accessories, with a focus on fit, comfort, and affordability.
Since its launch, Underneat has gained traction through direct engagement with consumers on digital platforms. Much of its visibility has been driven by Kapila's social media content, particularly her "what to wear under" series, which focuses on styling solutions and everyday wear concerns.
"Our customers are crafting this journey with us," said Co-founders Kusha Kapila and Vimarsh Razdan in a joint statement. They added that feedback from users has played a key role in shaping product design and fit, and that the funding will help the company better serve its growing community of over 2,00,000 customers.
India's women's innerwear market is currently valued at about USD 5.06 billion and is expected to grow steadily over the next decade, supported by rising incomes, urbanisation, and increased online shopping adoption.
