06 December 2019 | News
The investment led by Fireside will be used for team expansion, marketing, and doubling their retail footprint
SARVA, Yoga Studio Chain has raised Rs 20 crore in its first institutional financing round led by Fireside Ventures.
The funds would be utilized towards retail expansion, marketing and launching an integrated digital service. SARVA also plans to double its retail footprint in the next 12 months and is eyeing Mumbai and Bengaluru as its key expansion markets.
A disruptor in the fitness and wellness category, SARVA is focusing on the millennial population. With 25 different forms of practices, the venture plans to make yoga popular amongst the urban youth. SARVA has rapidly grown since its inception and runs studios across two formats: Diva Yoga and Sarva Yoga.
Speaking about this, Sarvesh Shashi, Founder SARVA said, "Since its inception, SARVA has grown aggressively from its first studio in Chennai and we hope to reach the 100-million consumer base in the next five years. We are very happy to have like-minded partners in Fireside Ventures supporting us in our mission to connect 7 billion breaths across the globe. We want to drive a cultural change and make yoga-based wellness a part of modern lifestyle. Our aim is to encourage more individuals, especially those under the age of 35, towards mindful and holistic wellness.”
On this investment, Kanwal Singh, Founder & Managing Partner, Fireside Ventures; who’s also joining SARVA’s board said, “Our investment in SARVA is embedded in the Fireside philosophy of investing in exciting young brands and helping them with a strong ecosystem support. SARVA is a credible player in the space of holistic wellness and has tremendous potential to scale up as a global Indian brand. Their physical, digital and lifestyle products and services catering to different needs and age groups, democratize the power and reach of yoga. We are aware that stress, anxiety, depression, obesity, etc. are becoming global health concerns. We believe in SARVA’s vision and our investment in the venture is also a step towards serving a global community.”
The company has so far raised over INR 35 crore from list of global investors including David Giampaolo, noted entrepreneur in the global health and fitness sector; Mark Mastrov, an entrepreneur hailed as the ‘Steve Jobs of Fitness’; Jennifer Lopez, Alex Rodriguez, Zumba, etc. The angel round also included investments from Bollywood Actors like Malaika Arora, Aishwaryaa R Dhanush, Shahid Kapoor and Mira Kapoor.