Influencer-turned-entrepreneur Kusha Kapila’s innerwear and shapewear brand Underneat has raised $6 million in a pre-Series A funding round, signalling strong investor confidence in India’s fast-growing D2C fashion space. The round was led by Fireside Ventures, with continued backing from Honasa Consumer co-founder Ghazal Alagh.

Founded by Kusha Kapila along with entrepreneur Vimarsh Razdan, Underneat was launched in April 2025 from Gurugram with a clear goal - to design comfortable, mass-premium innerwear made specifically for Indian body types. In a market long dominated by legacy players, the brand positioned itself around comfort, fit, and everyday wearability.

Despite being less than a year old, Underneat has already crossed ₹150 crore in annual recurring revenue and turned EBITDA positive within just eight months, a milestone many early-stage startups take years to achieve. This rapid traction played a key role in attracting investors.

The newly raised capital will be used to scale operations, expand product categories, and strengthen both online and offline distribution across Indian cities. With consumer demand rising and investor backing in place, Underneat is now gearing up to challenge traditional innerwear brands and carve out a larger share in India’s booming shapewear market.