Elevar, a Mumbai-based D2C sports brand, has raised Rs 19 crore in a Series A round of funding led by Kalaari Capital and Dream Capital (DreamCap), Dream Sports’ corporate venture capital and M&A arm.
Elevar plans to use the capital to expand its product portfolio, increase marketing activities, and hire more people.
Kunal Joshi, Co-founder, Elevar, said, “We are thrilled to have Kalaari Capital and Dream Capital partner with us. This gives us the platform to take our product portfolio to the next level, enabling us to build a millennial-first sports brand that addresses our customer’s performance requirements as well as their modern design sensibilities.”
Elevar was founded in 2018 as a direct-to-consumer sports brand with two main product categories: Athletic Performance Footwear and Cricket Bats. Its designers, engineers, and partners strive to create cutting-edge products based on the most recent biophysics and sports research.