Agilitas Sports, the Bengaluru-based sportswear and athleisure solutions platform, has raised Rs 100 crore (approximately $12 million) in its latest funding round led by Nexus Venture Partners. This marks the second funding injection for the startup this year, signalling strong investor confidence in its mission and potential.
They were founded by the former Managing Director of Puma India, Abhishek Ganguly, alongside Atul Bajaj and Amit Prabhu. Agilitas Sports officially launched in May with a remarkable $50 million maiden funding round led by Convergent Finance LLP.
The startup aims to become a pivotal player in the Indian sports ecosystem, focusing on strategic investments in core areas. Agilitas Sports recently revealed its intention to finalize a licensing deal with an international shoe brand, positioning itself to distribute its products exclusively in the Indian market.
In a strategic move in September, Agilitas Sports acquired Mochiko, a well-established sports footwear manufacturer catering to renowned brands such as Adidas, New Balance, and Reebok. Mochiko, with a 15-year legacy, reported an impressive revenue of Rs 642 crore in FY23, adding a robust foundation to Agilitas Sports’ portfolio.
Agilitas Sports is not limiting its scope to product manufacturing; it is actively exploring partnerships and investments across various segments of the sports ecosystem, including retail, technology, and more.
What sets Agilitas apart is its remarkable ability to secure consecutive funding rounds during its pre-product phase, a rarity in the startup landscape. This achievement places Agilitas Sports in an elite league of startups, demonstrating substantial investor appeal and confidence.
The startup ecosystem has recently seen notable activity in the funding landscape, with companies like Sarvam AI securing $41 million in Series A funding. Other ventures, including fintech firms Kiwi and Scapia, insurance company InsuranceDekho, fashion startup Purple Style Labs, and rural-focused fintech startup Navadhan, have also raised two funding rounds in the year 2023.
As Agilitas Sports continues to strengthen its position in the market, backed by strategic partnerships, acquisitions, and visionary leadership, the funding from Nexus Venture Partners represents a crucial milestone in its journey toward becoming a significant player in India’s dynamic and evolving sports industry.
