Agilitas Sports Raises $23.5 Mn in Round led by Nexus Venture Partners

The company plans to use the funds to expand its manufacturing capacity, grow its brands, and increase its retail presence across India as demand for sportswear and fitness apparel continues to rise.

“We are very bullish on building a billion-dollar revenue outcome in India with a sustainable and profitable foundation. The country is growing tremendously as people are playing more and wearing sportwear across multiple occasions like schools, colleagues, airports, offices and even parties,” Ganguly said, adding that there is a rising demand for products like sneakers and athleisure.

The company did not disclose its valuation in the latest funding round.

Earlier, Nexus Venture Partners invested ₹100 crore in Agilitas in 2023, while funds managed by Convergent Finance invested ₹400 crore during the same year. Actor and producer Anushka Sharma also participated in the latest funding round.

Agilitas Sports operates in the sports footwear and apparel market. The company sells products through its own brands as well as partnerships with other companies.

Agilitas is aiming to grow in India's rapidly expanding sportswear market by acquiring brands, improving products, and entering new product categories. The company wants to become a full-scale sportswear business rather than relying on a single consumer brand.

Since its launch, Agilitas has acquired Mochiko Shoes, brought the Italian sportswear brand Lotto to India, added One8 to its portfolio, and entered offline retail through Sportsyard.

In FY25, the company’s consolidated revenue increased to ₹1,015 crore from ₹728 crore a year earlier. However, it reported a loss of ₹86.1 crore, compared with a small profit of ₹76 lakh in FY24, according to filings accessed by Tofler from the Ministry of Corporate Affairs.

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