Boldfit secures funding: It is an exciting new chapter for the fitness industry in India. In a round led by venture capital powerhouse Bessemer Venture Partners, direct-to-consumer (D2C) fitness brand Boldfit has raised about $13 million or Rs 110 crore. Founded by Pallava Bihani in 2018, Boldfit quickly established itself in India as one of the dynamic players in the Indian fitness market with its wide product range, from dietary supplements and yoga accessories to fitness equipment and sportswear.
This follows the announcement in July of 2024, where KL Rahul, the Indian cricketer, has invested strategically as a brand ambassador for Boldfit. Adding star power and credibility to the brand is the commitment Boldfit believes matches its mission: to be accessible to all fitness aspirants and to increase healthy, active lifestyles across the country.
Boldfit: Building a Holistic Fitness Brand
Boldfit is no ordinary fitness brand. It was started to deliver high-quality products that can match the budget of the Indian market. Boldfit boasts a diversified catalog with over 400 home workout gear, sports equipment, and dietary supplements needed to satisfy different sports, including basketball, football, cricket, and badminton. Its collaboration with popular IPL teams such as Mumbai Indians and Royal Challengers Bangalore further strengthens its appeal, making it a recognized name among Indian sports enthusiasts.
With health-conscious consumers gaining momentum, now is the best time for the company to expand its plans. The company’s top lines- worth Rs 73 cr in FY23-doubled to Rs 140 cr in FY24-only goes on to indicate how its demand has been gradually on the upswing.
What Does the Funding Mean for Boldfit?
With this new funding, Boldfit is all set to take significant strides toward the next leg of growth. The founder, Pallava Bihani, was equally pleased: “This investment from Bessemer Venture Partners is a powerful endorsement of Boldfit’s vision to lead India’s fitness revolution. With this support, we’re ready to take the next big leap in our journey, delivering world-class products that inspire millions to lead healthier, more active lives.”.
Offline stores across India will be rolled out in the next 12-18 months. Another area in which the company is gearing up is international expansion. One of the main destinations the company is looking at is the Middle East, where a huge demand for fitness and wellness products already exists. The goal is to make Boldfit the global name for quality fitness gear.
Robust Investor Support
Of course, that funding marked most significant institutional raise to date and speaks powerfully to investor confidence in the brand. KL Rahul lent his support as an investor and brand ambassador. He expressed enthusiasm at this funding for Boldfit: “It is a great step forward, fuelling advancement in fitness for today’s India.” As a high-profile athlete, Rahul’s involvement underscores the brand’s commitment to propounding fitness as a way of life.
Anant Vidur Puri, partner at Bessemer Venture Partners, is equally optimistic about Boldfit’s future. “We believe sports and fitness is a rapidly growing market in India. The brand has emerged as an early leader in the space with its strong focus on product quality, holistic distribution, and strong brand partnerships,” he said.
Best Fit For India’s Fitness Revolution
This is one of the forerunners in India’s rapidly changing fitness landscape. The brand, therefore, shifts the focus to accessibility and quality, which makes it match up well with the needs of an increasingly ready market to embrace fitness in every second of their lives. Bihani’s vision is to create a platform accessible to every fitness enthusiast nationwide while ensuring quality without compromise.
