Boldfit Raises Rs 400 Crore in Series B Funding
Boldfit, a sports and fitness brand supported by KL Rahul, has successfully raised Rs 400 crore in its Series B funding round. This investment came from The Bharat Value Fund, which is managed by The Wealth Company, previously known as Pantomath Capital Management. The valuation after this fundraising has reached Rs 4,000 crore. The founder retains over 77% ownership, which is unusual in India’s fitness and wellness sector, where D2C brands often surrender considerable equity to investors before reaching such a scale.
Startup Superb analysed the regulatory filings of the Bengaluru-based company to uncover details about the recent funding round, the updated captable, and the post-money valuation. As stated in the company’s regulatory filings reviewed by Startup Superb, Boldfit’s board has approved the issuance of 12,783 Series B compulsorily convertible preference shares (CCPS) at an issue price of Rs 3,12,926.47 per share, amounting to roughly Rs 400 crore. The Bharat Value Fund was the exclusive investor in this Rs 400 crore funding action.
Valuation Growth and Future Plans
According to estimates from Startup Superb, Boldfit’s valuation surged 5.71 times to Rs 4,000 crore in this Series B round, compared to Rs 700 crore during the Series A round. The newly obtained funds are set to be allocated towards enhancing its retail presence nationwide, investing in product development and manufacturing, and selectively exploring inorganic opportunities to bolster its position across various categories.
Company Overview
Established in 2018 by Pallav Bihani and Aasshna Guptaa, Boldfit operates as an e-commerce platform providing a variety of sports and fitness products. Their offerings span across categories that include apparel, fitness equipment, nutritional supplements, and accessories. The brand features products for various sports such as basketball, cycling, football, volleyball, badminton, and cricket, with a diverse catalogue of over 400 items.
Previous Funding Rounds
In November 2024, Boldfit had previously secured Rs 110 crore in a Series A funding round led by Bessemer Venture Partners. Following the latest Series B allotment, Bharat Value Fund emerged as the largest external shareholder in Boldfit, holding a 10% stake. Bessemer Venture Partners follows with an 8.63% stake. Founder Pallav Bihani retains a 77.45% stake in the enterprise, while co-founder Aasshna Guptaa has a 0.78% stake. Indian cricketer KL Rahul possesses a 0.03% stake, along with other Indian sports figures like Sania Mirza, Manika Batra, and Arshdeep Singh, who also own minority stakes in the company.
Financial Performance
The company has not yet submitted its financial results for FY26. However, during FY25, Boldfit’s operating revenue experienced a remarkable increase of 2.17 times, rising from Rs 140 crore in FY24 to Rs 304 crore in FY25. Additionally, its profit ascended by 2.08 times to Rs 35 crore in FY25, compared to Rs 16.82 crore from the previous fiscal year.