Indian sports and fitness brand Boldfit has raised Rs 400 Cr from The Wealth Company Alternates’ Bharat Value Fund in a Series B funding round. The company plans to use the fresh capital to expand its retail presence, strengthen manufacturing and develop new products across sportswear, footwear and fitness equipment.
Founded in 2018 by Pallav Bihani, Boldfit is looking to build a larger sports business beyond its existing fitness products. Its expansion plans include opening up new retail opportunities, improving product development and exploring acquisitions to enter or grow in selected categories.
- Boldfit Plans Nationwide Retail Expansion
Boldfit has grown at a compound annual growth rate of more than 80% over the past three years and serves over 2 Cr customers annually, according to the company.
The latest funding will help it reach more customers through physical stores while investing in manufacturing capabilities and product innovation. The company also aims to expand into new product categories and build a stronger presence across India.
“We’re building a deeply integrated sports business,” founder Pallav Bihani said, highlighting the company’s focus on product innovation, manufacturing excellence and nationwide retail.
- Strong Investor Backing
Boldfit previously raised Rs 110 cr from Bessemer Venture Partners in a Series A funding round in 2024. Indian cricketer KL Rahul and tennis player Sania Mirza are also among its investors.
The latest investment comes as demand for sports and fitness products grows in India. E-commerce, organised retail and quick-commerce platforms are helping brands reach consumers beyond major cities.
For Bharat Value Fund, the Boldfit investment marks its fourth significant deal in the past 12 months. The fund has also invested in Zetwerk Manufacturing, Amnex Infotechnologies and Big Mishra. Its four investments during this period averaged around Rs 400 Cr each.
Avendus Capital served as the exclusive financial adviser to Boldfit and its shareholders for the transaction.
- Key Numbers to Know
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Rs 400 Cr: Fresh funding raised from Bharat Value Fund.
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80%+: Boldfit’s annual compound growth rate over the past three years.
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2 Cr+: Customers served annually by the sports and fitness brand.
With this funding, Boldfit is preparing for its next phase of growth, focusing on retail expansion, stronger manufacturing and a wider range of sports and fitness products for Indian consumers.
