Direct-to-consumer fitness brand Boldfit has successfully raised Rs 110 crore (approximately $13 million) in its latest funding round, spearheaded by Bessemer Venture Partners. The Bengaluru-based company, which counts Indian cricketer KL Rahul among its backers, previously attracted $8.37 million from its existing investors. With this fresh injection of capital, Boldfit aims to fuel product innovation and broaden its brand presence both online and offline.
Founded in 2018 by Pallav Bihani and Aasshna Guptaa, Boldfit has established itself as a go-to platform for fitness enthusiasts in India, offering over 400 products across multiple categories. The brand’s offerings span apparel, fitness equipment, nutrition supplements, and accessories. Catering to sports such as basketball, cycling, football, volleyball, badminton, and cricket, Boldfit prides itself on delivering high-quality, affordable products that make fitness more accessible nationwide.
Boldfit’s strategic partnerships with IPL teams, including the Mumbai Indians and Royal Challengers Bangalore, have boosted its reach and visibility. The brand claims to have served over 10 million customers across the country, with an ambitious vision for further growth. Plans include launching offline stores within the next 12 to 18 months and expanding operations into the Middle East, where demand for fitness products is rapidly increasing.
The new funding will also support Boldfit’s efforts to advance its existing product lines with innovative offerings that align with the latest fitness trends and customer needs. As the Indian fitness market continues to grow — valued at $20 billion in 2023 and projected to reach $32 billion by 2028 with a 27% annual growth rate — Boldfit is well-positioned to ride the wave of this expanding industry and set new standards in quality and accessibility.
