Boldfit Secures ₹400 Crore in Series B Funding Led by Bharat Value Fund
Bengaluru-based Boldfit raises significant capital to enhance growth and expand its sports brand across India.
Boldfit raised over ₹400 crore in Series B funding led by Bharat Value Fund.
The startup aims to use the funds for retail expansion and product innovation.
Boldfit serves over 2 crore customers annually and has seen substantial revenue growth.
Boldfit, a prominent Indian sports brand, has successfully raised over ₹400 crore (approximately $42 million) in its Series B funding round. This round was spearheaded by Bharat Value Fund, which is managed by The Wealth Company Alternates, part of the Pantomath Group. Existing investor Bessemer Venture Partners also contributed to this funding round, reflecting strong investor confidence in the brand's potential.
Founded in 2018 by Pallav Bihani and Aasshna Guptaa, Boldfit operates as an e-commerce platform that specializes in sports and fitness products. The company had previously raised ₹110 crore (around $13 million) in November 2024 from Bessemer Venture Partners and garnered an additional $8.37 million from existing investors, including Indian cricketer KL Rahul. The latest funding will be directed towards expanding retail operations, enhancing product innovation, and improving manufacturing processes.
Boldfit's diverse product portfolio includes over 400 items across various sports, including basketball, cycling, football, volleyball, badminton, and cricket. The company serves more than 2 crore customers annually and is focused on strengthening its integrated product development and manufacturing capabilities. This strategic move aims to foster innovation, ensure quality, and maintain long-term competitive advantages in the market.
The financial performance of Boldfit has shown remarkable improvement, with operating revenue increasing 2.17 times to ₹304 crore in FY25 from ₹140 crore in FY24. Additionally, profits surged to ₹35 crore in FY25, up from ₹16.82 crore in the previous fiscal year. This growth trajectory positions Boldfit as a significant player in the sports and fitness industry in India.
Looking ahead, Boldfit plans to leverage the new funds for nationwide distribution and to explore inorganic growth opportunities that will enhance its market presence. The company is committed to building a sports brand that resonates with a billion Indians through innovative products and robust distribution channels.
