Fireside Ventures has reportedly invested in Kusha Kapila’s recently founded shapewear firm UnderNeat, and Ghazal Alagh, a co-founder of Mamaearth, has also joined as an investor. The brand went live on 30th March.
Although the numbers have not been revealed, the seed funding round is anticipated to be between US $ 935,000 (Rs. 8 crore) and US $ 1.17 million (Rs. 10 crore).
The company will provide a wide selection of undergarments, such as loungewear, bras, and panties, to accommodate a variety of body shapes. Underneat intends to market itself as a reasonably priced innerwear company that caters to ladies between the ages of 18 and 40.
The brand gained 1,76,000 Instagram followers in the two days after its debut, capitalising on Kusha’s 4.1 million-strong personal online presence. In addition to outerwear like leggings, shorts, and T-shirts, UnderNeat’s initial product lineup will feature shapewear (waist cinchers, corsets, etc.), accessories, swimwear, and loungewear.
