# Elevar Sports Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elevar-sports-pvt

- Industry: Consumer Products
- Headquarters: Mumbai, India
- Website: https://in.elevarsports.com/
- Total disclosed funding: $2.6M
- Latest round: Seed (Aug 12, 2021)
- Investors on record: 3

## About

Founded in 2017 and based in Mumbai, Elevar Sports Pvt. Ltd. specializes in premium sports footwear and equipment, focusing on comfort and performance for athletes and casual consumers alike.Elevar Sports Pvt. Ltd. is a Mumbai-based company that designs and manufactures premium athletic footwear and equipment. Founded by Aayush Tapuriah and Kunal Joshi, the company has successfully raised INR 190 million in Seed funding from investors such as Dream Capital, Kalaari Capital, and Sporta Technologies on August 12, 2021. The business has engaged in three deals to date, with a current valuation of INR 700.378 million.Elevar Sports specializes in premium sneakers and sports equipment designed to enhance comfort, performance, and style. Its core product offerings include a wide range of sneakers featuring proprietary technologies such as Rydefoam and ComfortCore, which provide superior cushioning and support for various activities, from fitness to casual wear. The company targets a diverse clientele, including active individuals seeking high-quality athletic footwear and casual consumers looking for style and comfort. Elevar's products cater to a global market, focusing on regions that prioritize active lifestyles, such as North America, Europe, and parts of Asia. Additional offerings include performance apparel and specialized cricket bats, further expanding its product line and appeal to sports enthusiasts.In 2022, Elevar Sports reported revenue of INR 587,101.30, with an EBITDA of INR -510,233.30. The company generates revenue primarily through direct-to-consumer sales from its online platform, supplemented by partnerships with retailers and wholesalers. Its product transactions include flagship items like the ultimate all-purpose sneakers and the perfect workout sneaker, designed with advanced materials and technologies, reflecting the premium nature of their offerings.Elevar Sports plans to utilize its recent Seed funding of INR 190 million to enhance its product development and market reach. The funding will support the launch of new footwear lines and performance apparel, with releases scheduled for 2023. The company aims to expand into North American and European markets by mid-2024, capitalizing on the increasing demand for premium athletic gear. This strategic expansion, supported by their recent funding, will help solidify Elevar’s presence in these competitive regions.

## Funding rounds

- Seed, Aug 12, 2021, $2.6M — Kalaari Capital, Sporta Technologies Private Limited, Dream Capital

## Investors

- Kalaari Capital (https://capitalatlas.ai/funds/kalaari-capital) — Seed
- Sporta Technologies Private Limited — Seed
- Dream Capital (https://capitalatlas.ai/funds/dream-capital) — Seed