Elevar Sports
Direct-to-consumer sports brand that currently has two core product categories — Athletic Performance Footwear and Cricket bats.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
INR190m | Series A | ||
| Total Funding | 000k | ||
Elevar Sports is a direct-to-consumer (D2C) brand based in Mumbai, India, targeting the country's burgeoning sports and athleisure market. Founded in 2017 by Kunal Joshi and Aayush Tapuriah, who met at Cornell University in 2007, the company was born from their shared frustration with the lack of access to sports products that successfully combined style, performance, and affordability for Indian millennials. Leveraging their respective backgrounds in private equity and business, the founders launched Elevar in 2018 to fill this market gap.
The company operates on a D2C business model, which allows it to offer products with advanced materials and technology at more accessible price points by avoiding traditional retail markups and celebrity endorsement costs. Elevar's revenue is generated through the online sale of its products, with a significant portion of sales coming directly from its website. The company is strategically positioned to capitalize on the growth of the athleisure segment and the increasing demand for aspirational, digital-first brands in India.
Elevar's product portfolio initially centered on two main categories: athletic performance footwear and cricket equipment. Their footwear line, which includes models like the ARC RACER and Retrogaze sneakers, aims to bridge the gap between high-performance athletic shoes and casual lifestyle sneakers, featuring proprietary technologies like RYDE FOAM. In cricket, Elevar has engineered a line of bats, inspired by Japanese Samurai swords, that feature unique handle designs and shock-absorbing grips to enhance a player's experience, catering to everyone from casual to professional players. The company has since expanded its offerings to include apparel made from lightweight, moisture-wicking materials and other footwear like flip-flops and slides. In August 2021, Elevar secured ₹19 crore (approximately $2.5 million) in a Series A funding round led by Kalaari Capital, with participation from Dream Capital, the venture arm of Dream Sports. This capital infusion was earmarked for expanding the product portfolio, bolstering marketing efforts, and growing the team.
Keywords: Elevar Sports, direct-to-consumer, D2C sports brand, athletic footwear, cricket bats, Indian sports market, millennial consumers, Kunal Joshi, Aayush Tapuriah, performance wear, athleisure, online sports retail, sports technology, Kalaari Capital, Dream Capital, sneaker brand, sports equipment, affordable athletic gear, lifestyle sneakers, Mumbai startup