Boldfit Closes $42 Mn in Series B Funding to Expand Retail and Manufacturing

The company plans to use the fresh capital to expand its offline retail presence across India, invest in product innovation, improve manufacturing capabilities, and explore selective acquisitions.

Following this investment, Boldfit’s total funding has crossed Rs 510 crore. Avendus Capital acted as the exclusive financial advisor for the transaction.

Funding Details

Boldfit’s latest Series B round follows its Rs 110 crore funding round led by Bessemer Venture Partners in November 2024. The company has also received investments from existing backers, including cricketer KL Rahul and former tennis player Sania Mirza.

The latest funding will support Boldfit’s plans to strengthen its position in India’s sports and fitness market. The company aims to expand its distribution network and build capabilities across product development, manufacturing, and retail.

How Will Boldfit Use the Funding?

Boldfit plans to allocate the fresh capital across several business priorities:

• Retail Expansion: Expand its offline retail presence and make its products accessible to more customers across India.
• Product Innovation: Develop new products and broaden its offerings across sportswear, footwear, fitness equipment, and accessories.
• Manufacturing Capabilities: Strengthen manufacturing operations to support product development and business expansion.
• Strategic Acquisitions: Explore selective acquisitions that could help expand product categories and improve business capabilities.

These investments are intended to support the company’s long-term growth and help it build a broader sports and fitness business.

Boldfit Company Background

Founded in 2018 by Pallav Bihani and Aasshna Guptaa, Boldfit is an Indian sports and fitness brand headquartered in Bengaluru.

The company offers products across sportswear, athletic footwear, fitness equipment, and fitness accessories. Its portfolio includes more than 400 products catering to sports such as cricket, football, basketball, badminton, cycling, and volleyball.

Boldfit sells its products through its e-commerce platform and is working to expand its offline retail presence. According to the company, it serves more than 2 crore customers annually across India.

Business Growth and Financial Performance

Boldfit reported operating revenue of Rs 304 crore in FY25, compared with Rs 140 crore in FY24. Its profit increased to Rs 35 crore in FY25 from Rs 16.82 crore in the previous financial year.

These figures indicate growth in both revenue and profitability during FY25. The company has not yet filed its FY26 financial results, according to the information available in the source report.

With its latest funding, Boldfit plans to build on this growth by expanding retail distribution, improving its product portfolio, and strengthening its manufacturing operations.

What’s Next for Boldfit?

Boldfit’s next phase of growth will focus on expanding its retail footprint, investing in product innovation, and improving manufacturing capabilities. The company will also explore acquisitions that align with its business expansion plans.

The latest funding provides additional capital to support these priorities as Boldfit works to expand its presence in India's sports and fitness market.

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