India, Jan. 29 -- D2C athleisure brand Cava Athleisure has raised INR 40 Cr ($4.4 Mn) in its Series A funding round at a post-money valuation of INR 215 Cr ($23.3 Mn).

The round was led by Sharrp Ventures, the family office of FMCG giant Marico's chairman Harsh Mariwala, which invested INR 21 Cr in the startup. V3 Ventures and existing backer Spring Marketing Capital infused the remaining capital.

The startup plans to utilise the fresh funds to develop new products and hire top-level executives. A chunk of the capital will also be deployed for marketing and expanding omnichannel distribution.

". The response from our customers has reinforced our belief in this category. Partnering with Sharrp Ventures gives us a long-term partner with ...