Elevar, a Mumbai-based startup that manufactures sporting goods, has raised $2.5 million in a Series A funding round led by Kalaari Capital. Dream Capital also participated in the funding round.
The funds will be utilised for expanding the product portfolio, marketing and hiring.
“Cutting-edge materials and technology in sporting goods have always been priced out of reach for several Indians,” Aayush Tapuriah, cofounder, Elevar, said. “Our direct-to-consumer business model enables us to offer customers these innovative technologies at extremely attractive price points.”
“This (the funding) gives us the platform to take our (Elevar) 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,” Kunal Joshi, cofounder, Elevar, added.
“Elevar’s products speak for themselves in terms of their appeal, design and quality. We look forward to partnering with the team to develop India’s leading sports lifestyle brand.” commented”, said Dev Bajaj – Managing Director, Dream Capital.
Founded in 2018 by Kunal Joshi and Aayush Taapuriah, Elevar is a direct-to-consumer sports brand that makes cricket bats and athletic performance footwear.
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