Indian shapewear brand Underneat has secured $6 million in funding. This investment will fuel expansion and enhance distribution networks. Direct-to-consumer (D2C) shapewear brand Underneat has raised $6 million from Fireside Ventures, cofounder Vimarsh Razdan told ET. The Gurugram-based startup was founded by Razdan and social media content creator Kusha Kapila in April this year.
Razdan, who is Underneat’s CEO, previously worked with brands such as GAP, Esprit, M&S, Zara, and Indian fashion designers like Rahul Mishra and Ritu Kumar during his stint at Orient Craft and Attic Salt.
“There is a shift in consumer preference from conventional innerwear to shapewear,” Razdan told ETtech. “Our products are designed in India and for India. Indian weather is different from the West,” he added.
Shapewear refers to innerwear that provides support and a smoother look to an outfit by compressing the area in focus. It includes tummy tuckers, thigh shapers and bodysuits.
Kapila and Razdan have modelled Underneat on US social media celebrity Kim Kardashian’s popular brand Skims. In November this year, Skims notched up a valuation of $5 billion after raising $225 million from Goldman Sachs.
In recent times, many Indian actors and celebrities have launched their own brands especially in the beauty and apparel segments. These include Kriti Sanon’s skincare label Hyphen, Sonakshi Sinha’s press-on nails brand Soezi, Masaba Gupta’s makeup label LoveChild, among many others.
Underneat plans to use the funding to scale operations and strengthen its distribution channels. A part of the funding will be used for marketing and its social media content strategy.
Prior to its launch in April, cofounder Kapila, who has 4.3 million followers on Instagram, launched a series of shapewear and innerwear tips.
Underneat, which offers shapewear, innerwear, saree shapewear and others, sold products worth around ₹12 crore in gross merchandise value (GMV) in November, the company said.
GMV is an ecommerce industry term representing the total value of all goods and before any deductions for returns, discounts, or fees.
Underneat currently sells on its own website along with starting to offer its products on quick commerce platform Blinkit and ecommerce platform Myntra.
According to Razdan, they plan to launch exclusive brand outlets in select cities in mid-2026.
“When we started in April, we clocked around ₹80 lakh of GMV that month and now we are at around ₹12 crore monthly. As we are seeing a strong repeat rate among our customers, we are expecting to do ₹80-100 crore revenue in FY26,” said Razdan.
In April, Underneat had raised $1 million from Fireside Ventures and Mamaearth cofounder Ghazal Alagh.
“Underneat is building a category that has been structurally overlooked in the Indian market,” said Adarsh Menon, partner, Fireside Ventures, in a statement.
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