[Funding alert] D2C sports brand Elevar raises Rs 19 Cr in Series A from Kalaari Capital and Dream Capital

Mumbai-based D2C sports brand Elevar has brought Rs 19 crore up in a Series A series of financing, driven by Kalaari Capital, with cooperation from Dream Capital (DreamCap), the corporate funding and M&A arm of Dream Sports. 


Elevar will use the assets towards growing its item portfolio, expanding its advertising endeavors, and building its group. 


Kunal Joshi, Co-Founder, Elevar, said, 

"We are excited to have Kalaari Capital and Dream Capital collaborate with us. This gives us the stage to take our item portfolio to a higher level, empowering us to construct a millennial-first games brand that tends to our client's presentation prerequisites just as their cutting edge plan sensibilities." 


"State of the art materials and innovation in outdoor supplies have consistently been valued far off for a few Indians. Our direct-to-buyer plan of action empowers us to offer clients these creative innovations at a very alluring value point," added Aayush Tapuriah, Co-originator, Elevar. 


Dispatched in 2018, Elevar is a direct-to-purchaser sports brand that as of now has two center item classes — Athletic Performance Footwear and Cricket bats. Its group of architects, specialists, and accomplices look to convey state of the art plans utilizing the most recent exploration from biophysics and game. 


Vani Kola, Kalaari Capital, said, "Aayush and Kunal's enthusiasm for building an India-first games brand was irresistible. Their comprehension of the market, obligation to item advancement and client experience stood apart for us. We are pleased to be an early accomplice in their vision to construct a troublesome games organization from India." 


Kunal and Aayush have related knowledge in counseling, banking, contributing, and new companies in both the US and India. The two met in 2007 at Cornell University. 


"Elevar's items represent themselves as far as their allure, plan and quality. We anticipate collaborating with the group to foster India's driving games way of life brand," added Dev Bajaj, Managing Director, Dream Capital.


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