Kalaari Capital's CXXO invests Rs 10 crore in Athleisure Brand Aastey
Aastey, a sustainable athleisure brand for women of all body shapes, has closed a seed round fundraising round of Rs 10 crore from CXXO, a Kalaari Capital platform that backs women innovators with a $10 million corpus.
According to the brand, performance clothing in India has traditionally catered solely to a specific body type, ignoring the majority of women and fostering body image concerns. According to the statement, Aastey's purpose is to challenge misconceptions and address the issue of body inclusion.
Its products are currently available in 16 various sizes, taking into account the diversity of Indian body types.
“While we have already optimised our products to suit the Indian market, we want to further our action plan to create a standardised size chart across the subcontinent. This is a massive challenge because of the population diversity that this region boasts,” said Kanupriya Mundhra, cofounder & CCO at Aastey.
According to the company, Aastey will focus on growing and connecting with its community in 2022.
“India is crowded with athleisure brands with no one focusing on the sustainability aspect. The country has a strong ecosystem for homegrown direct-to-consumer ( D2C) brands and there is a huge demand for high-quality athleisure wear in our country. This funding will help us build our supply chain to scale aastey, while setting the foundation for marketing our brand to propel growth,” stated Jeevika Tyagi, cofounder & CEO of Aastey.
Athleisure is a form of clothing that is worn for both athletic and non-athletic purposes. During the pandemic, demand for the category increased dramatically as individuals stayed at home.
“Technological innovations in fabrics and the body-positivity movement are spurring demand for athleisure products, a trend that we believe will fundamentally change women’s fashion. When we met Jeevika and Kanupriya, we truly saw them as changemakers who could create a vibrant lifestyle brand and community centred on sustainable fashion,” says Vani Kola, managing director, Kalaari Capital.
According to the brand, performance clothing in India has traditionally catered solely to a specific body type, ignoring the majority of women and fostering body image concerns. According to the statement, Aastey's purpose is to challenge misconceptions and address the issue of body inclusion.
Its products are currently available in 16 various sizes, taking into account the diversity of Indian body types.
“While we have already optimised our products to suit the Indian market, we want to further our action plan to create a standardised size chart across the subcontinent. This is a massive challenge because of the population diversity that this region boasts,” said Kanupriya Mundhra, cofounder & CCO at Aastey.
According to the company, Aastey will focus on growing and connecting with its community in 2022.
“India is crowded with athleisure brands with no one focusing on the sustainability aspect. The country has a strong ecosystem for homegrown direct-to-consumer ( D2C) brands and there is a huge demand for high-quality athleisure wear in our country. This funding will help us build our supply chain to scale aastey, while setting the foundation for marketing our brand to propel growth,” stated Jeevika Tyagi, cofounder & CEO of Aastey.
Athleisure is a form of clothing that is worn for both athletic and non-athletic purposes. During the pandemic, demand for the category increased dramatically as individuals stayed at home.
“Technological innovations in fabrics and the body-positivity movement are spurring demand for athleisure products, a trend that we believe will fundamentally change women’s fashion. When we met Jeevika and Kanupriya, we truly saw them as changemakers who could create a vibrant lifestyle brand and community centred on sustainable fashion,” says Vani Kola, managing director, Kalaari Capital.
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