Bangalore, India, October 2024 – Boldfit, one of India’s fastest-growing fitness brands, backed by cricketer KL Rahul, has raised INR 110 crore in its latest Series-A funding from Bessemer Venture Partners (BVP). This strategic investment will bolster Boldfit's product innovation, brand expansion, and journey toward becoming India’s largest and most influential fitness brand.
Boldfit is at the forefront of India’s rapidly growing fitness industry, meeting the demand for high-quality products that cater to a wide range of fitness enthusiasts. Despite the market’s growth, challenges like inconsistent quality and limited access to dependable fitness gear persist. Boldfit addresses these gaps by creating trusted fitness products designed to be within reach of everyday consumers, empowering millions to embrace healthier lifestyles across the country. In an industry largely dominated by foreign brands, Boldfit is driven by a vision to establish a truly Indian sports brand that resonates with and represents the aspirations of Indian consumers.
Pallav Bihani, Founder of Boldfit, shared his excitement about the partnership and the brand’s mission:
"This investment from Bessemer Venture Partners is a powerful endorsement of Boldfit’s vision to lead India’s fitness revolution. With this support, we’re ready to take the next big leap in our journey, delivering world-class products that inspire millions of people to lead healthier, more active lives. Boldfit is committed to setting new benchmarks for quality and innovation in fitness, making it accessible to every fitness enthusiast across the country."
“This funding is a strong step forward for Boldfit, driving advancement in fitness for today’s India,” said KL Rahul, cricketer and investor. “Excited to see how Boldfit brings in the best for wellness with this momentum.”
Anant Vidur Puri, Partner at Bessemer Venture Partners, shared his thoughts on this partnership with Boldfit
"We believe sports and fitness is a rapidly growing market in India and Boldfit has emerged as an early leader in the space with its strong focus on product quality, holistic distribution, and strong brand partnerships. We're excited to partner with Pallav and the team in their next stage of growth."
About Boldfit
Founded in 2018, Boldfit is one of India’s fastest-growing fitness brands, offering a wide range of activewear, fitness accessories, and sports equipment. The brand’s partnerships with major IPL teams, including Mumbai Indians, Chennai Super Kings, and Royal Challengers Bengaluru, have firmly established its presence in India’s vast sports and fitness communities. With backing from cricket icon KL Rahul, Boldfit has rapidly become a favorite among fitness enthusiasts nationwide and has served over 10 million customers. The infusion of capital will be used to accelerate product development, strengthen Boldfit's omnichannel presence, and deepen its reach in key markets.
Equi-T Partners were the exclusive financial advisors to Boldfit on this transaction.
About Bessemer Venture Partners
Bessemer Venture Partners is a global venture capital firm with a legacy of partnering with visionary entrepreneurs. BVP backs high-growth companies across industries, helping them scale and transform their markets. BVP has a history of backing consumer success stories like Bigbasket, Swiggy, PharmEasy, Urban Company, Livspace, Cashify, and The Good Glamm Group. BVP’s investment in Boldfit reinforces its commitment to scaling high-potential consumer startups in India.
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