Kalaari Capital platform backs women founders with a corpus of 10 crore

By: WE Staff | Thursday, 24 February 2022

Aastey, a sustainable athleisure brand for women of all shapes and sizes, has raised Rs 10 crore in a seed round from CXXO, a Kalaari Capital platform that invests in women entrepreneurs with a $10 million fund.

According to the brand, in India, performance gear has typically catered to a specific body type, neglecting the majority of women and encouraging body image worries. Aastey's mission, according to the statement, is to dispel myths and address the issue of body inclusiveness.

Its products are currently available in 16 different sizes to accommodate the wide range of body shapes seen in India.

 “While we have already optimised our products to suit the Indian market, we want to further our action plan to create a standardised size chart across the subcontinent. This is a massive challenge because of the population diversity that this region boasts,” said Kanupriya Mundhra, cofounder & CCO at Aastey.

According to the company, Aastey will focus on growing and connecting with its community in 2022.

“India is crowded with athleisure brands with no one focusing on the sustainability aspect. The country has a strong ecosystem for homegrown direct-to-consumer ( D2C) brands and there is a huge demand for high-quality athleisure wear in our country. This funding will help us build our supply chain to scale aastey, while setting the foundation for marketing our brand to propel growth,” stated Jeevika Tyagi, cofounder & CEO of Aastey.

Athleisure is a form of clothing that is worn for both athletic and non-athletic purposes. During the pandemic, demand for the category increased dramatically as individuals stayed at home.

“Technological innovations in fabrics and the body-positivity movement are spurring demand for athleisure products, a trend that we believe will fundamentally change women’s fashion. When we met Jeevika and Kanupriya, we truly saw them as changemakers who could create a vibrant lifestyle brand and community centred on sustainable fashion,” says Vani Kola, managing director, Kalaari Capital.