Boldfit Nets INR 110 Cr To Bolster Its Product Portfolio

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SUMMARY

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.)





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We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Boldfit Nets INR 110 Cr To Bolster Its Product Portfolio


SUMMARY

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.)





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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