D2C sports brand Elevar raises Rs 19-Cr led by Kalaari Capital

D2C sports brand Elevar has raised INR 19 crore in a Series A round led by Kalaari Capital with participation from Dream Capital, the corporate venture capital (CVC) arm of gaming firm Dream11.com. The company will utilise the funds towards expanding its product portfolio, increasing its marketing efforts, and building out its team. Elevar currently offers two core product categories - Athletic Performance Footwear and Cricket bats. Elevar's flagship shoe - ARC RACER - is a versatile sneaker which leverages a proprietary foam technology that gives the user a running experience that combines "pillow-like" softness with "spring-like" responsiveness. The shoe is piced at one-third that of comparable shoes from international brands. Elevar's cricket bats are engineered with an ergonomic handle and sophisticated grip technology.