Influencer Kusha Kapila’s shapewear brand Underneat raises $6 million from Fireside Ventures

Direct-to-consumer (D2C) shapewear brand Underneat has secured $6 million in funding from Fireside Ventures.

The Gurugram-based startup was founded in April this year by Vimarsh Razdan and social media creator Kusha Kapila. 

Underneat plans to use the funding to expand operations and enhance its distribution channels, with a portion allocated for marketing and social media content.

Before its April launch, cofounder Kusha Kapila, who has 4.3 million Instagram followers, shared a series of shapewear and innerwear tips.

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Razdan, Underneat’s CEO, previously worked with global brands like GAP, Esprit, M&S, Zara, and Indian designers including Rahul Mishra and Ritu Kumar during his time at Orient Craft and Attic Salt.

“There is a shift in consumer preference from conventional innerwear to shapewear,” Razdan told ETtech. “Our products are designed in India and for India. Indian weather is different from the West,” cofounder Vimarsh Razdan said.

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Underneat, which offers shapewear, innerwear, saree shapewear, and more, recorded around ₹12 crore in gross merchandise value (GMV) sales in November, the company said.

The brand currently sells through its own website and has recently started offering products on quick-commerce platform Blinkit and e-commerce platform myntra.

According to CEO Vimarsh Razdan, Underneat plans to open exclusive brand outlets in select cities by mid-2026.

“When we started in April, we clocked around Rs 80 lakh of GMV that month and now we are at around Rs 12 crore monthly. As we are seeing a strong repeat rate among our customers, we are expecting to do Rs 80-100 crore revenue in FY26,” said Razdan.

“Underneat is building a category that has been structurally overlooked in the Indian market,” said Adarsh Menon, partner, Fireside Ventures, in a statement.

In April, Underneat raised $1 million in funding from Fireside Ventures and Ghazal Alagh, cofounder of mamaearth.

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