Bengaluru-based D2C fitness and sportswear brand Boldfit has raised ₹400 crore (about $41.8 million) from Bharat Value Fund as part of its Series B funding round, the company announced. The investment will support Boldfit’s nationwide retail expansion, product innovation, and manufacturing efforts. Founded in 2018 by Pallav Bihani, Boldfit serves more than 2 crore customers annually across India, selling performance sportswear, athletic footwear, sports equipment, and fitness essentials, according to inc42.com.
The funding round was led by Bharat Value Fund, a Category II AIF managed by The Wealth Company Alternates under the Pantomath Group. Boldfit plans to use the fresh capital to open offline stores across India, building on its earlier ₹110 crore funding round from Bessemer Venture Partners in November 2024. The startup also intends to pursue selective acquisitions to strengthen its presence and capabilities across categories. Investors in Boldfit include cricketer KL Rahul and former tennis player Sania Mirza, the report said.
Boldfit’s retail expansion comes amid a growing fitness and sports goods market in India, currently estimated at $16 billion and projected to reach $35 billion by FY31. The sector’s growth is driven by rising disposable incomes, increasing health awareness, and wider participation in sports. Boldfit’s total funding to date has crossed ₹510 crore, positioning it as a significant player in the Indian fitness and sportswear segment, according to inc42.com.
Boldfit’s next steps include accelerating offline retail presence and enhancing product innovation to capture a larger share of India’s expanding fitness market. The company’s plans align with its goal to build a deeply integrated sports business capable of serving India’s sporting ambitions, founder Pallav Bihani said in the announcement.