D2C fashion and equipment model Theater has raised Rs 75 crore in a Sequence A funding spherical led by investment agency Niveshaay, with participation from new investor Physis Capital and present investor Prath Ventures.

The funding values Theater at about Rs 410 crore on a post-money foundation.

The startup plans to make use of the recent capital to broaden its offline retail presence and put money into brand-building initiatives, together with advertising and marketing campaigns and superstar partnerships.

Based in 2021 by Sarthak Aggarwal, Vikram Jain, Karan Jain and Shruti Aggarwal, Theater affords merchandise together with footwear, stockings, baggage and perfumes.

The startup positions itself as a design-led, mass-premium style model, concentrating on customers in search of merchandise between mass-market choices and imported luxurious labels.

“We began Theater as a result of we couldn’t discover lovely, well-made equipment in India that weren’t both a luxurious import or a compromise,” co-founder and CEO Sarthak Aggarwal stated.

“So we determined to construct them ourselves – made in India and priced for a technology that cares deeply about design however doesn’t need to pay luxurious costs,” he stated.

Theater plans to mix its digital-first enterprise with a rising bodily retail presence because it seeks to broaden its attain throughout India.

Co-founder Vikram Jain stated the corporate’s development confirmed that customers had been prepared to pay for differentiated merchandise fairly than make buying selections solely on reductions.

“We’ve heard for years that design doesn’t scale, and that Indian customers will all the time select reductions over differentiation. Our development has instructed us in any other case. Customers are prepared to pay for merchandise which have a viewpoint, and Theater is proof that style generally is a enterprise mannequin,” Jain stated.

Niveshaay founder Arvind Kothari stated the funding was pushed by Theater’s concentrate on design-led merchandise in classes the place organised choices stay restricted.

“At Niveshaay, we again category-creating manufacturers that handle clear market gaps and have robust client pull. Footwear, stockings and baggage stay largely unorganised, with restricted design-led choices for the aspirational Indian lady. Theater has constructed precisely that, with evergreen, design-led merchandise that customers have found organically,” Kothari stated.

The startup recorded working income of Rs 33.35 crore within the monetary 12 months ending March 2025, about 2.37 instances its income within the earlier 12 months.

The newest funding spherical follows a $1.5 million pre-Sequence A spherical led by Prath Ventures in September 2024.

Theater stated the brand new funding will help its efforts to construct a wider offline presence whereas persevering with to develop its digital-first enterprise.