Boldfit, an Indian sports brand, has raised over ₹400 crore in a Series B funding round led by Bharat Value Fund, managed by The Wealth Company Alternates, part of Pantomath Group. Existing investor Bessemer Venture Partners also participated in the round.
Founded by Pallav Bihani, Boldfit operates across performance sportswear, athletic footwear, sports equipment and fitness essentials. The company serves over 2 crore customers annually and is looking to strengthen its product development and manufacturing capabilities as it expands its presence in the Indian sports market.
The fresh capital will be deployed towards product innovation, manufacturing and nationwide retail expansion. Boldfit also plans to selectively explore acquisitions and other inorganic opportunities to strengthen its presence across categories and enhance its capabilities.
In 2024, the company raised ₹110 crore from Bessemer Venture Partners in its Series A funding round. Indian sportspersons KL Rahul and Sania Mirza are also among its investors.
Avendus Capital acted as the exclusive financial advisor to Boldfit on the transaction.
Speaking about the fundraise, Pallav Bihani, Founder and CEO, Boldfit, said, “We believe India is entering a defining era for sport. Our ambition is to see India become a sporting powerhouse, with greater participation, stronger sporting talent and many more medals on the world stage.
“Boldfit intends to play a meaningful role in that transformation. We’re building a deeply integrated sports business, investing in product innovation, manufacturing excellence and nationwide retail to create the scale and capabilities required to serve India’s sporting ambitions. We’re delighted to welcome Bharat Value Fund as our partners. This investment marks an important step towards building an institution that can shape Indian sport for decades to come.”
Madhu Lunawat, Founder and Whole-time Director, The Wealth Company Asset Management Private Limited, said India is witnessing a shift in how consumers engage with fitness and sports, with active living increasingly becoming part of everyday routines.
She added that Bihani had achieved rapid growth while maintaining profitability, and that the investment reflects the fund's confidence in Boldfit's growth prospects and its potential to create long-term value.
The transaction marks Bharat Value Fund's largest investment in the consumer sector to date, underscoring its confidence in Boldfit's expansion plans and long-term business vision.
