Boldfit raises over ₹400 crore in Series B funding

Indian sports and fitness brand Boldfit has raised more than ₹400 crore in a Series B funding round led by Bharat Value Fund, managed by The Wealth Company Alternates, part of the Pantomath Group. Existing investor Bessemer Venture Partners also participated in the round.

Announced on October 13, the fundraise is aimed at accelerating Boldfit’s expansion across sportswear, athletic footwear, sports equipment and fitness essentials. The company plans to use the capital to strengthen its manufacturing capabilities, develop new products and expand its physical retail presence across India. It will also explore acquisitions to broaden its product portfolio and business capabilities.

Founded by Pallav Bihani in 2018, Boldfit has built its business around sports and fitness products sold through digital channels. The company said it serves more than two crore customers annually, as it looks to expand its presence beyond online sales.

Retail and manufacturing in focus

The latest funding round will support Boldfit’s effort to build a more integrated sports business, with investments spanning product innovation, manufacturing and nationwide retail.

“We’re building a deeply integrated sports business, investing in product innovation, manufacturing excellence and nationwide retail to create the scale and capabilities required to serve India’s sporting ambitions,” Bihani, founder and CEO of Boldfit, said.

The company has reported a compound annual growth rate of more than 80% over the past three years, according to a statement cited by Moneycontrol. Its expansion plans include strengthening its ability to develop products and manufacture them, while increasing its physical retail footprint.

The planned acquisitions could also help Boldfit enter new categories or deepen its presence in existing ones. The company has not publicly detailed specific acquisition targets as part of the announcement. 

Existing investors include KL Rahul, Sania Mirza

Boldfit’s earlier funding includes a ₹110-crore Series A round in 2024 led by Bessemer Venture Partners. Cricketer KL Rahul and tennis player Sania Mirza are also among its investors.

The latest investment comes as sports and fitness brands seek to serve a wider consumer base through products spanning performance apparel, footwear and training equipment. For Boldfit, the new capital provides funding to expand its distribution while building manufacturing and product-development capabilities.

Bharat Value Fund’s investment is part of a broader deployment of capital by The Wealth Company Alternates. According to Moneycontrol, the fund’s other recent investments include manufacturing firm Zetwerk, technology company Amnex Infotechnologies and food business Big Mishra.

Avendus Capital acted as the exclusive financial adviser to Boldfit and its shareholders on the transaction.

The Series B round marks a new phase in Boldfit’s expansion, with the company targeting a larger physical retail presence and a more integrated operating model across sports and fitness categories.