Boldfit Raises Rs 400 Crore From Bharat Value Fund in Series B Round
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Khushi Jain
- October 12, 2026
D2C fitness and sportswear brand Boldfit has raised around Rs 400 crore (about $41.8 million) from Bharat Value Fund as part of its Series B funding round.
Bharat Value Fund is a Category II Alternative Investment Fund (AIF) managed by The Wealth Company Alternates, part of Pantomath Group.
Boldfit plans to use the investment to expand its retail presence across India, support product innovation and strengthen manufacturing capabilities. The company also intends to pursue selective acquisitions to expand its presence and capabilities across categories.
Founded in 2018 by Pallav Bihani, Bengaluru-based Boldfit sells performance sportswear, athletic footwear, sports equipment and fitness essentials. The startup claims to serve more than 2 crore customers annually across India.
“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,” Bihani said.
Boldfit Builds on Offline Retail Expansion Plans
The latest funding round builds on Boldfit’s retail expansion plans outlined during its Rs 110 crore funding round from Bessemer Venture Partners in November 2024. At the time, the company said it intended to open offline stores over the following 12-18 months.
With the latest investment, Boldfit’s total funding to date has risen to over Rs 510 crore. The startup also counts cricketer KL Rahul and former tennis player Sania Mirza among its investors.
India’s Fitness and Sports Goods Market
India’s fitness and sports goods market is estimated to be worth $16 billion and is projected to reach $35 billion by FY31. Growth is expected to be driven by rising disposable incomes, increasing health awareness and wider access through ecommerce, organised retail and quick commerce channels.
The expanding market has attracted investor interest in Indian sportswear and athleisure startups.
In June, sportswear startup Agilitas raised Rs 225 crore in a funding round from Nexus Venture Partners and Rainmatter. Nexus Venture Partners invested Rs 200 crore, while Rainmatter contributed Rs 25 crore.
In January, D2C athleisure brand CAVA announced a Rs 40 crore Series A funding round led by Sharrp Ventures, with participation from V3 Ventures and existing investor Spring Marketing Capital.
FAQs
1. How much funding has Boldfit raised in its Series B round?
Boldfit has raised around Rs 400 crore, equivalent to about $41.8 million, from Bharat Value Fund.
2. Who founded Boldfit?
Boldfit was founded in 2018 by Pallav Bihani.
3. How will Boldfit use the latest funding?
The company plans to use the funds for nationwide retail expansion, product innovation, manufacturing and selective acquisitions.
4. What is Boldfit’s total funding to date?
Following the latest round, Boldfit’s total funding has risen to over Rs 510 crore.
5. How large is India’s fitness and sports goods market?
India’s fitness and sports goods market is estimated at $16 billion and is projected to reach $35 billion by FY31.
