Boldfit, a homegrown sports brand, has raised over Rs 400 crore (nearly $42 million) in its Series B funding round led by Bharat Value Fund, managed by The Wealth Company Alternates, part of the Pantomath Group. Existing investor Bessemer Venture Partners also participated in the round.
The Bengaluru-based startup had previously raised Rs 110 crore, or around $13 million, in a funding round led by Bessemer Venture Partners in November 2024. It also raised $8.37 million from existing investors, including KL Rahul.
The fresh funds will be used to drive growth, with investments planned in nationwide retail expansion, product innovation and manufacturing. The company will also selectively pursue inorganic opportunities to strengthen its presence and capabilities across categories, Boldfit said in a press release.
Co-founded in 2018 by Pallav Bihani and Aasshna Guptaa, Boldfit is an e-commerce platform that offers sports and fitness products across categories such as apparel, fitness equipment, nutrition supplements and accessories. Its portfolio covers sports such as basketball, cycling, football, volleyball, badminton and cricket, with over 400 products.
The company said it serves over 2 crore customers annually. It is also strengthening its integrated product development and manufacturing capabilities, with a focus on innovation, quality and long-term competitive advantages.
Boldfit aims to build a sports brand for a billion Indians through product innovation, manufacturing and nationwide distribution, the company said.
The company is yet to file its FY26 financials. Its operating revenue jumped 2.17X to Rs 304 crore in FY25 from Rs 140 crore in FY24. Profit also surged 2.08X to Rs 35 crore in FY25 from Rs 16.82 crore in the previous fiscal.
In the sports and fitness segment, Agilitas, a sportswear platform, raised Rs 225 crore from Nexus Venture Partners and Rainmatter, the investment arm of Zerodha, in June 2026. The funds will be used to strengthen its manufacturing, brand-building, retail and technology capabilities.
Meanwhile, PlayBlue raised $2.7 million in seed funding in July 2026 from Centre Court Capital, MIXI Global and WEH Ventures to launch its omnichannel sports retail business, which will include a pan-India e-commerce platform and flagship stores.