Theater is a Western fashion brand that secured $1.5 million in its pre-series A funding round from Prath Ventures. The round saw the participation of new and existing investors, including angel investors. The startup plans to use this fresh capital to enhance its supply production process, scale its operations, expand its offline market presence, and grow through new channels like quick commerce.
The CEO of Theater, Sarthak Aggarwal told inc42 in an interview that the company is committed to developing fashion and lifestyle products that are exquisitely and timeless in design. This investment will enable the company to accelerate growth through new channels and expand its services. The company provides various styles and options for women’s fashion items like stockings, footwear, perfumes, and bags. The company aims to empower mass premium fashion brands and the fashion design landscape. The startup raised investment from the venture capital firm, Path Ventures which backs startups in series A and seed funding stages.
The company intends to establish more stores and improve its brand presence. Theater aims to transform the Indian design or fashion landscape through its design-centric approach to create large businesses with different offerings. The managing partner at Prath Ventures, Piyush Goenka highlighted that the startup is entering the women’s lifestyle with strong design aesthetics and the best product quality. The startup has secured around 1.5 million USD since its inception, this includes the seed funding round. This marks the first fundraising for the company. The development came just when the Indian fashion market saw increased investor interest. The company faces competition from other internet-first brands in the fashion market such as RapidBox, and Quince.
The startup intends to develop its market presence and solidify its position in the market. The report by Inc42 shows that the fashion e-commerce market is growing at a 25 percent CAGR and is expected to reach over $43.2 billion by the end of 202. The women’s fashion market is expected to lead the segment with a 50 percent market share in the next six years. The D2C fashion industry has been gaining huge interest from investors. Recently, ethnic wear brand Libas secured Rs 150 crore for its offline expansion from ICICI Ventures.
Conclusion:
D2C fashion startup, Theater raised 1.5 million USD in its pre-series A funding round. The firm raised $1.5 million in a round led by Path Ventures with the participation of angel investors. The company plans to use this fund to invest in the growth of new channels like quick commerce, scale up operations, improve its production capability, and meet general corporate purposes while aiming for offline expansion in the fashion market. The startup offers fashion items like stockings, perfumes, footwear, and bags for women. Path Ventures is a venture capital firm that invests in seed and series-A stage startups. This marks the VC firm’s first investment in this startup. Theater aims to transform the Indian fashion market through its design-centric approach.
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