About Thevasa
Thevasa is a Retail company based in Gurugram (India) founded in 2020 by Himanshu Wardhan and Neha Kalra. Internet first brand offering ethnic wear for women. Thevasa has raised $1.62 million across 2 funding rounds from investors including M-Venture Partners, Patni Wealth Advisors and Akash Lal. The company has 21 employees. Thevasa was last valued at $7.71 million in December 2023. Its website thevasa.in draws about 27 thousand monthly visits. Its Indian entity Fulton Brands Private Limited reported revenue of ₹8.02 Cr. Its focus areas include Consumer, Fashion Tech, B2C Commerce and Apparel. Its competitors include Fashor, Dressfolk and Suta; 2 of its 3 listed competitors have raised funding.
Company details
Thevasa was founded in 2020 in Gurugram, India, and operates as an online platform in the ethnic apparel sector. Womens clothing such as short kurtas, mid-length kurtas, long kurtas, salwars, straight pants, kaftans, and tops is featured in the catalog. Dupattas and stoles are provided alongside household items including bowls, mugs, jars, teapots, and platters. Tickets for workshops on coffee painting, tie-dye, and similar activities are also available.
- Headquarters Gurugram, India
- Employees 21
- Founders Himanshu Wardhan, Neha Kalra
- Stage Minicorn
- SectorsRetail
- Email••••••••
- Phone•••• ••••
- Website thevasa.in
- Social LinkedIn X Facebook
- Legal Name Fulton Brands Private Limited
- Date of Incorporation 06 Jan, 2022
- Jurisdiction Gurugram, Haryana, India
- Annual Revenue₹8.02 Cr
FY 2025 · -42% YoY
- Net Loss-₹3.77 Cr
FY 2025 · -47% margin
- EBITDA-₹4.83 Cr
FY 2025 · -60% margin
- Total Equity Funding$1.62M (USD)
in 2 rounds
- Latest Funding Round$528.23K (USD), Seed
Dec 2023
- InvestorsM-Venture Partners
& 40 more
- Employee Count21
Associated legal entities of Thevasa
Thevasa is associated with 2 registered companies on The Company Check; the primary company is Fulton Brands Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Fulton Brands Private Limited CIN U52609HR2022PTC100392 | Active | 06 Jan 2022 | Gurugram, Haryana | ₹8.0 Cr | 21 | 2 | View details |
| Middlefield Brands Llp CIN AAK-9545 | Active | 25 Oct 2017 | New Delhi, Delhi | ₹0.0 Cr | 2 | View details |
Funding Insights of Thevasa
Thevasa has successfully raised a total of $1.62M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $528.23 thousand completed in December 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.62M
- Total Rounds 2
- Last Round Seed — $528,233
- First Round $1.09M
(Apr 2022)
- Investors Count 41
All 2 funding rounds of Thevasa with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2023 | $528,233 | Seed | $7.71M | MVP, Patni Wealth Advisors | |
| Apr 2022 | $1.09M | Seed | $4.86M | MVP |
| Date | Valuation | Stage |
|---|---|---|
| Dec 2023 | $7.71M | •••••••• |
| Apr 2022 | $4.86M | •••••••• |
Last known valuation $7.71M (Dec 2023). 41 investors in total: 4 institutional and 37 angel.
Investors in Thevasa
Thevasa has secured backing from 41 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include M-Venture Partners, Patni Wealth Advisors and Akash Lal.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage investments are made in innovative startup ventures by MVP. | m-venturepartners.com | Singapore, Singapore | ||
Venture capital investments are directed toward consumer brand startups. | patniwealthadvisors.tcc.mode | Mumbai, India | ||
Seed-series venture capital is invested in tech startups. | tnsinvestment.tcc.mode | Delhi, India | ||
| flywheelventureadvisors.tcc.mode | ||||
AL Akash Lal | unknown_45b9323e54d042d3a | |||
RN Ritika Nikhil | unknown_29c7a56dfc944da88 | |||
BM Brad Mattson | Angel investor in Indian startups, focuses on tech and innovation. | unknown_26ff0e188b0549c48 | ||
RM Ramesh Mangaleshwaran | unknown_7d419d7b0b154a329 | |||
PS Puneet Singhal | unknown_876b6230c1c946738 | |||
SY Sudhakar Yeshwant Mhaskar | unknown_564ff5d5dae94431a |
Investor details for Thevasa
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Fulton Brands Private Limited (Thevasa)
Fulton Brands Private Limited is the primary company behind Thevasa. The boards of the 2 registered companies of Thevasa currently have 2 directors; the longest-serving is Himanshu Wardhan, appointed in 2017.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Himanshu Wardhan DIN 02164213 | Designated Partner | 25 Oct 2017 | 9 yrs | Middlefield Brands Llp, Fulton Brands Private Limited |
| Neha Kalra DIN 07930217 | Designated Partner | 25 Oct 2017 | 9 yrs | Middlefield Brands Llp, Fulton Brands Private Limited |
People of Thevasa
2 people are tracked at Thevasa (2 in leadership); the tracked headcount is 21.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership |
Complete people profiles for Thevasa
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Thevasa
Figures of Fulton Brands Private Limited, the primary company behind Thevasa, for FY 2025. Revenue was ₹8.02 Cr (-42% year on year). Net loss was -₹3.77 Cr (-47% margin). EBITDA was -₹4.83 Cr (-60% margin).
- ₹8.02 CrRevenue · FY 2025 · -42% YoY
- -₹3.77 CrNet loss · -47% margin
- -₹4.83 CrEBITDA · -60% margin
- ₹13.7 LakhPaid-up capital
- 21Employees (provident fund records)
Balance sheet, profit and loss, cash flow and ratios of Fulton Brands Private Limited are on its company page.
Detailed financial statements for Thevasa
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
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- Downloads
Verified entity values are shown only after access is granted.
Timeline of Thevasa
4 dated milestones of Thevasa across 3 years, from founding to its latest funding, stage changes and deals.
- Founded Thevasa is founded.
- Funding First funding round of $1.1M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $528K.
Competitors of Thevasa
Thevasa has 3 listed competitors in our database, 2 of them funded. They include Fashor, Dressfolk and Suta.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| fashor.com | 2017 | Chennai, India | $6.23M | 232 | Ethnic wear for women is offered via an internet-first brand. | |
| dressfolk.com | 2015 | Delhi, India | $838,736 | 5 | Handcrafted ethnic wear for women is offered online by Dressfolk. | |
| suta.in | 2016 | Mumbai, India | 231 | Online platform selling traditional Indian apparel and accessories. |
Detailed competitors of Thevasa
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Thevasa
The website of Thevasa (thevasa.in) receives about 27.2K visits a month.
- Monthly visits27.2K
▼ 45.6% vs previous month
Websites whose visitors overlap most with Thevasa. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
untld.in | untld.in | 100% | #133,449 | – | |
italianvega.com | italianvega.com | 98% | #337,084 | – | |
| saphed.com | 98% | #416,354 | View details | ||
redflame.in | redflame.in | 97% | #378,159 | – | |
| mehar.com | 97% | #1,803,227 | View details | ||
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 23 similar websites and full traffic analytics for Thevasa
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 23 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Top companies in Fashion & Lifestyle E-Commerce
3 companies that operate in the same segment as Thevasa (Fashion & Lifestyle E-Commerce) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Eyewear is offered online for men, women, and kids. | 2010 | Gurugram, Haryana, India | USD 1.04 B | USD 939.4 M | 18,984 | |
Fashion and lifestyle products are offered via an online marketplace. | 2007 | Bengaluru, Karnataka, India | USD 123.71 M | USD 542.17 M | 1,108 | |
Gold and silver jewellery, lab-grown diamonds, and accessories are retailed. | 2019 | Bengaluru, Karnataka, India | USD 143.24 M | USD 32.66 M | 711 |
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Frequently Asked Questions about Thevasa
Thevasa was founded in 2020 and raised its 1st funding round 2 years after it was founded.
Thevasa is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Thevasa is a funded company, having raised a total of $1.62M across 2 funding rounds to date. The company's 1st funding round was a Seed of $1.09M, raised on Apr 2022.
Thevasa has 21 employees.
The primary company behind Thevasa, Fulton Brands Private Limited, reported revenue of ₹8.02 Cr for FY 2025, down 42% year on year.
Thevasa was founded in 2020 in Gurugram, India, and operates as an online platform in the ethnic apparel sector. Womens clothing such as short kurtas, mid-length kurtas, long kurtas, salwars, straight pants, kaftans, and tops is featured in the catalog. Dupattas and stoles are provided alongside household items including bowls, mugs, jars, teapots, and platters. Tickets for workshops on coffee painting, tie-dye, and similar activities are also available.
Thevasa has 41 investors. Key investors include M-Venture Partners, Patni Wealth Advisors, Akash Lal, Ritika Nikhil, and Brad Mattson.
The valuation of Thevasa is $7.71M as of Dec 2023.
Thevasa is associated with 2 legal entities: Fulton Brands Private Limited, Middlefield Brands Llp.
The legal entities of Thevasa currently have 2 directors, including Himanshu Wardhan, Neha Kalra.