Underneat designs and sells shapewear and innerwear products directly to consumers, leveraging online channels and social-media-driven engagement powered by co-founder Kusha Kapila’s content. The brand positions itself as a category leader in an under-served segment of the Indian apparel market, competing against players such as Westside, Nykd by Nykaa, Amante and Enamor. Since launching eight months ago, Underneat claims to have surpassed Rs 150 crore in annualised revenue while remaining EBITDA positive, signalling early operating efficiency. The company reports having captured meaningful market share in the country’s emerging shapewear category. Newly raised capital will be channelled toward scaling operations and strengthening distribution across additional Indian cities. Future plans include deepening product leadership and broadening reach to solidify its first-mover advantage in the segment. The founders are supported by institutional investor Fireside Ventures and strategic individual backer Gazal Alagh.

Total raised

$6M

Funding rounds

1

Latest round

Series A

Latest activity

Dec 2025