Agilitas Sports Raises Rs 225 Crore for Expansion
Agilitas Sports, a vertically integrated sportswear and athleisure company, has successfully secured Rs 225 crore from Nexus Venture Partners and Rainmatter. This funding round comprises a Rs 200 crore follow-on investment from Nexus along with Rs 25 crore from Rainmatter. In 2023, Agilitas made a strategic acquisition of Mochiko Shoes, a manufacturer known for producing footwear for renowned global brands including Adidas and Puma. Additionally, the company garnered Rs 40 crore from cricketer Virat Kohli, who transferred his sports and lifestyle brand, One8, to Agilitas.
Previously, in December 2023, Agilitas had raised Rs 100 crore (approximately $12 million) from Nexus Venture Partners. The latest capital injection will be directed towards enhancing product research and development, refining design processes, boosting manufacturing capacity, expanding retail operations, investing in technology, acquiring talent, and building the brand, as stated by the company in a recent press release.
About Agilitas Sports
Founded in 2023 by Abhishek Ganguly, who served as the Managing Director of Puma India and Southeast Asia, Agilitas operates primarily in sports footwear, apparel, and accessories. The company is focused on creating an integrated platform that merges research and development, design, manufacturing, and retail, which allows for a quicker response to consumer demands in the steadily growing athleisure market both in India and internationally.
Expansion Plans and Retail Strategy
Agilitas is actively expanding its Sportsyard brand, a large-format multi-brand retail chain that features renowned labels such as Nike, Adidas, New Balance, Asics, Puma, and Skechers. The company reported that its inaugural store in Bengaluru turned profitable within just two months of its opening. Plans are in place to launch an additional 10 Sportsyard outlets within the current financial year.
Moreover, Agilitas has secured exclusive long-term licensing rights to produce and distribute the Lotto sportswear brand across India, Australia, and South Africa. The company anticipates that e-commerce, which includes both marketplace and proprietary channels, will account for 25–30% of its overall revenue.