Underneat Raises $6M Pre-Series A from Fireside
bolt Executive Summary
- Shapewear brand Underneat raised USD 6 million in a pre-Series A round. The funding was led by existing investor Fireside Ventures. Ghazal Alagh, co-founder of Mamaearth, also participated.
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Shapewear brand Underneat raised USD 6 million in a pre-Series A round. The funding was led by existing investor Fireside Ventures. Ghazal Alagh, co-founder of Mamaearth, also participated.
Funding details: USD 6 million - Pre-Series A (Unspecified)
Full Story
Underneat raised USD 6 million in a pre-Series A round.
Fireside Ventures led the round. They had invested in the company before.
Ghazal Alagh joined the round too. She is the co-founder of Mamaearth.
The funding comes eight months after Underneat launched.
At launch, the brand raised a seed round from Fireside Ventures and Ghazal Alagh.
The new money will mainly go into scaling operations.
Underneat also plans to strengthen distribution channels across cities.
That includes its direct-to-consumer website and marketplace business.
The company has crossed Rs 150 crore ARR since launch.It remains EBITDA positive.
Underneat is a shapewear brand. It makes and sells shapewear for consumers. The company operates online across cities in India.
Source:- YourStory.
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