Kusha Kapila’s UnderNeat hits Rs 150-crore ARR in eight months, raises $6 million

Content creator Kusha Kapila’s entry into India’s shapewear market has scaled far faster than most new consumer brands. UnderNeat, the women’s shapewear and innerwear company she co-founded, has crossed Rs 150 crore in annual recurring revenue within just eight months of its launch, underscoring the growing power of creator-led commerce in India.

The company has also raised $6 million in a pre-Series A round from Fireside Ventures, which had backed UnderNeat at the seed stage with a $1 million investment.

In a LinkedIn post announcing the milestone, co-founder Vimarsh Razdan reflected on the speed of the company’s rise. “Eight months ago, we were two people with a dream and zero customers. Today, we’ve crossed Rs 150 crore in ARR, served two lakh customers, and built a team of 30,” he wrote.

src="https://www.linkedin.com/embed/feed/update/urn:li:share:7406574786128052224" height="1510" width="504" frameborder="0" allowfullscreen="" title="Embedded post">

UnderNeat officially launched on March 30, entering a category that has long been fragmented and underserved in India. The brand quickly gained attention, adding nearly 400,000 Instagram followers within two days of launch by tapping into Kapila’s following of more than 4 million across social platforms.

Shapewear remains a relatively small but fast-growing segment of India’s apparel market. Globally, the compression and shapewear industry is projected to nearly double over the next decade, while India’s market—valued at under $200 million—is expected to grow at a faster pace as improvements in fabric technology make products lighter and suitable for everyday wear.

Often compared to Kim Kardashian’s Skims, the $4 billion American shapewear brand, UnderNeat is pursuing a similar playbook but at a lower price point. Its products are priced 30 to 40 percent below global peers, a strategy aimed at widening access in a price-sensitive market. The company’s initial offerings include waist cinchers, corsets, leggings, shorts and T-shirts, with plans to expand into swimwear, accessories and loungewear for women aged 18 to 40.

The challenge ahead will be standing out in an increasingly crowded field. India’s shapewear market already includes established innerwear brands like Zivame, Clovia and Jockey, alongside newer labels focused on fit and customization. Yet UnderNeat’s early traction suggests that a blend of social influence, accessible pricing and product focus may give it an edge in a category poised for growth.