Agilitas Sports raises Rs 100 crore from Nexus Venture Partners

Sportswear company Agilitas Sports has received Rs 100 crore ($12.5 million) in funding from Nexus Venture Partners. 

The company will utilise the funds to expand its presence in the Indian sportswear market by using sustainable techniques.

Additionally, the company will accelerate its scale-up trajectory, further solidifying its capabilities from research, manufacturing, and retail.

Commenting on the funding, Abhishek Ganguly, co-founder CEO of Agilitas Sports in a statement said, “At this stage, we have a substantial amount of capital from our initial fundraising that remains unutilised. Nexus brings valuable expertise in building digital platforms and technology companies both in the US and India.”

Suvir Sujan, co-founder of Nexus Venture Partners added, “India is one of the fastest growing economies in the world where more people are moving towards a health-conscious lifestyle. Therefore, we are aligned with the vision of Agilitas for propelling a generation through sports.”

Agilitas had recently acquired business-to-business footwear manufacturing firm Mochiko Shoes for an undisclosed amount.  

Former managing director of Puma India Abhishek Ganguly has partnered with Convergent Finance to launch the sportswear and athleisure business Agilitas Sports earlier this year.