D2C fitness startup Boldfit secured INR 110 Cr (around $13 Mn) in a fresh funding round from Bessemer Venture Partners to boost its product innovation and scale up its brand presence
The startup also looks to open offline stores in the next 12 to 18 months
The funding comes months after cricketer KL Rahul invested in Boldfit as the company plans to roll out innovations in existing categories and build its presence in the Middle East
Bengaluru-based D2C fitness startup Boldfit has reportedly secured INR 110 Cr (around $13 Mn) in a fresh funding round from Bessemer Venture Partners.
As per ET, the company seeks to deploy the fresh proceeds to boost its product innovation and scale up its brand presence.
Inc42 has reached out to Boldfit for comments on the development. The story will be updated based on the response.
Founded in 2018 by Pallav Bihani, Boldfit offers more than 400 products in an affordable price window across categories including fitness equipment, yoga accessories, supplements and athleisure wear among others.
The startup also looks to open offline stores in the next 12 to 18 months.
“As we build out a larger fitness powerhouse in the coming years, activewear, athleisure and footwear will become crucial. We are actively exploring and building these categories, which already contribute a significant portion of our business,” Bihani was quoted as saying in the report.
The funding comes months after cricketer KL Rahul invested in Boldfit as the company plans to roll out innovations in existing categories and build its presence in the Middle East.
It is to note that the Indian fitness market, valued at $20 Mn in 2023, is projected to reach $32 Bn by 2028, growing at an annual rate of 27%.
(The story will be updated soon.)
