Bengaluru: D2C fashion startup Theater has raised Rs 75 crore in a Series A funding led by investment firm Niveshaay, the company announced in a media release on Thursday. The round also saw participation from a new investor Physis Capital and the company’s existing investors, including Prath Ventures. The round has valued Theater at Rs 410 crore post money.
Sarthak Aggarwal, co-founder and CEO, Theater, said, “Four years in, the ambition remains the same, but the opportunity is much bigger. This fundraise gives us the partners and capital to take Theater from a fast-growing fashion startup to a nationally recognised brand.”
The company plans to use the capital to expand its presence across Tier 1 and Tier 2 cities and its brand-building initiatives, including celebrity partnerships and high-impact marketing activations.
Arvind Kothari, founder, Niveshaay said, “The opportunity is significant, with India’s mass-premium fashion segment growing ahead of the broader market, alongside rising female workforce participation, with the Labour Force Participation Rate increasing from 23.3 per cent in 2017-18 to 41.7 per cent in 2023-24. We are delighted to lead this round and partner with them in building a lasting Indian fashion house.”
Founded in 2021 by Aggarwal, Jain, Karan Jain, and Shruti Aggarwal, Theater sells footwear, stockings, perfumes and bags. The company said it has scaled 8x over the past two years while maintaining a focus on profitability.
