D2C Brand Boldfit Raises ₹400 Cr From Bharat Value Fund For Retail Expansion
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D2C fitness and sportswear brand Boldfit has raised around ₹400 Cr (about $41.8 Mn) from Bharat Value Fund as part of its Series B funding round.
The fund is a Category II AIF managed by The Wealth Company Alternates, part of Pantomath Group.
Boldfit said the investment would support nationwide retail expansion, product innovation, and manufacturing. It also plans to pursue selective acquisitions to strengthen its presence and capabilities across categories.
Founded in 2018 by Pallav Bihani, Bengaluru-based Boldfit sells performance sportswear, athletic footwear, sports equipment, and fitness essentials. The startup claims to serve more than 2 Cr customers annually across India.
“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 said.
The retail push builds on plans outlined during its ₹110 Cr funding round from Bessemer Venture Partners in November 2024, when Boldfit said it intended to open offline stores over the following 12-18 months.
Following the latest round, Boldfit’s total funding to date has risen to over ₹510 Cr. The startup also counts cricketer KL Rahul and former tennis player Sania Mirza among its investors.
India’s fitness and sports goods market is estimated to be worth $16 Bn and is projected to reach $35 Bn by FY31, driven by rising disposable incomes, growing health awareness, and wider access through ecommerce, organised retail, and quick commerce channels.
As a result, Indian sportswear and athleisure startups are seeing a lot of investor interest. In June, sportswear startup Agilitas raised ₹225 Cr funding round from Nexus Venture Partners and Rainmatter, with Nexus investing ₹200 Cr and Rainmatter contributing ₹25 Cr.
In January, D2C athleisure brand CAVA announced a ₹40 Cr Series A round led by Sharrp Ventures, with participation from V3 Ventures and existing investor Spring Marketing Capital.
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