Chandigarh-Based Fashion Brand Theater Secures $1.5 Million in Pre-Series A Funding
- ByStartupStory | September 4, 2024
Theater, a fashion brand specializing in women’s footwear, stockings, perfumes, and bags, has successfully raised $1.5 million (approximately ₹12.5 crore) in a pre-Series A funding round. The round was led by Mumbai-based venture capital firm Prath Ventures, with additional participation from existing angel investors, as announced by the company on Tuesday.
The newly raised capital will be instrumental in propelling Theater towards its goal of becoming India’s leading design-driven, mass-premium fashion brand. The company plans to use the funds to expand its offline presence, accelerate design iteration and production processes, and explore new growth channels like quick commerce.
“Our mission is to transform the Indian fashion landscape through a design-centric approach,” said Sarthak Aggarwal, Chief Executive Officer (CEO) of Theater. “We are committed to crafting fashion and lifestyle products that are not only exquisitely made but also timeless in design. This funding empowers us to drive growth through new channels like quick commerce, expand our offline presence, and accelerate our design iteration and production processes. We are witnessing remarkable growth across all our categories, and this investment comes at a pivotal moment.”
Theater was founded in 2021 by a dynamic team consisting of Sarthak Aggarwal, Vikram Jain, Karan Jain, and Shruti Aggarwal. The brand offers a diverse range of products, typically priced between ₹900 and ₹4,000, which are available on its direct-to-consumer (D2C) website as well as on prominent marketplaces.
Piyush Goenka, Managing Partner at Prath Ventures, expressed his enthusiasm for the partnership, stating, “Indian consumption story is at its inflexion point and we believe there is a whitespace in categories such as Women’s Shoes and Perfumes. We are thrilled to partner with Sarthak, Vikram, Shruti and Karan to build a category-defining lifestyle brand out of India.”
This investment marks the fourth venture for Prath Ventures in recent months. The firm has also backed Gurugram-based Assembly, a travel goods brand, with a $2.1 million investment, and Hustle Energy Drink, another Gurugram-based beverage company, with a $3 million pre-Series A round. Additionally, Prath Ventures invested in Aukera Grown Diamond Jewellery, though the investment amount was not disclosed. With Theater now added to its portfolio, Prath Ventures continues to focus on investing in promising Indian brands with high growth potential.
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