Boldfit receives Rs 110 crore investment to boost brand presence

Fitness equipment, apparel, accessories, and lifestyle business Boldfit has received a Rs 110 crore investment from venture capital business Bessemer Venture Partners. The business aims to boost its brand presence and fuel product innovation as it expands its clothing and footwear categories.

“We started our business with fitness equipment, and that continues to grow for us over 100% year on year for the last four or five years,” Boldfit’s founder Pallav Bihani told the Economic Times. “As we build out a larger fitness powerhouse, in the coming years, active wear, athleisure, and footwear will become crucial. We are actively exploring and building these categories, which already contribute a significant portion of our business.”
 
In the 2024 financial year, Boldfit reported a revenue total of approximately Rs 140 crore compared to Rs 73 crore in the 2023 fiscal year. The business is confident that it will see continued growth in the 2025 financial year.
 
“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,” said Bessemer Venture Partners’ partner Anant Vidur Puri, ET Tech reported.
 
Boldfit currently retails from its direct to customer e-commerce store as well as on numerous multi-brand e-commerce platforms and with quick commerce businesses. In the coming 12 to 18 months, Boldfit aims to begin to launch brick-and-mortar stores in India to reach shoppers offline and build additional brand visibility.