Mumbai-based Theater, a fashion brand that sells footwear, stockings, perfumes, and bags, said on September 11 it had raised 750 million rupees (US$7.88 million) in a series A round led by Niveshaay.

New investor Physis Capital and existing investor Prath Ventures also participated. The round gives Theater a post-money valuation of 4.1 billion rupees (US$43.1 million).

Founded in 2021, Theater said the funding would support offline expansion in Tier 1 and Tier 2 cities.

The company also planned to spend on brand building and marketing.

The company said it had grown 8x over the past two years while staying focused on profitability.

Prath Ventures had previously funded Theater before this round.

The funding announcement comes as investors show broader interest in Indian consumer brands.

🔗 Source: Theater