Bessemer Venture Partners Fuels Boldfit’s Mission to Revolutionize Fitness in India with Rs 110 Crore Investment

Investment to Support Product Innovation, Brand Expansion, and Boldfit’s Vision for Fitness Revolution in India

Bengaluru, India: In a significant development for India’s booming fitness market, Boldfit, a fast-growing fitness and wellness brand, has secured Rs 110 crore (approximately $13 million) in Series-A funding from Bessemer Venture Partners (BVP). This funding round, also backed by cricket star KL Rahul, marks a major milestone for the company as it aims to lead a fitness revolution in India, addressing the need for affordable, quality fitness products tailored to Indian consumers.

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Founded in 2018 by Pallav Bihani, Boldfit has quickly emerged as a leader in the fitness industry, catering to the rising demand for accessible and reliable fitness products. The company’s product range includes fitness accessories, core sports equipment, workout apparel, and other offerings in activewear, athleisure, and more. With this capital infusion, Boldfit aims to expand its product lineup, enhance its market reach, and continue innovating within the wellness sector.

Funding to Drive Product Development and Brand Expansion

Bihani expressed his excitement about the investment, noting that it reflects a powerful endorsement of Boldfit’s vision to inspire healthier lifestyles across India. “This investment from Bessemer Venture Partners is a powerful endorsement of Boldfit’s vision to lead India’s fitness revolution,” Bihani said. “With this support, we’re ready to take the next big leap in our journey, delivering world-class products that inspire millions of people to lead healthier, more active lives. Boldfit is committed to setting new benchmarks for quality and innovation in fitness, making it accessible to every fitness enthusiast across the country.”

The funding will enable Boldfit to bolster its product development initiatives, continue expanding into new markets, and address the challenges that have historically plagued India’s fitness industry, including inconsistent product quality and limited access to affordable fitness gear. Additionally, the company plans to expand its omnichannel presence, combining online sales with offline touchpoints to build a more holistic approach to customer engagement.

KL Rahul’s Backing Adds Momentum to Boldfit’s Growth

KL Rahul, a renowned Indian cricketer and the brand’s ambassador, has been an instrumental figure in raising Boldfit’s profile and strengthening its credibility among fitness enthusiasts. Rahul praised the brand’s commitment to wellness and quality, saying, “This funding is a strong step forward for Boldfit, driving advancement in fitness for today’s India. Excited to see how Boldfit brings in the best for wellness with this momentum.”

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Rahul’s involvement has also contributed to Boldfit’s increasing popularity and visibility in the market. His endorsement is in line with Boldfit’s mission to establish itself as a truly Indian fitness brand that resonates with the aspirations of Indian consumers, setting itself apart in an industry where foreign brands often dominate.

Bessemer Venture Partners Sees Boldfit as Early Leader in Growing Market

Anant Vidur Puri, Partner at Bessemer Venture Partners, emphasized the high growth potential of India’s fitness and sports market, acknowledging Boldfit’s strategic approach to quality and distribution as critical factors in its success. “We believe sports and fitness is a rapidly growing market in India and Boldfit has emerged as an early leader in the space with its strong focus on product quality, holistic distribution, and strong brand partnerships,” Puri said. “We’re excited to partner with Pallav and the team in their next stage of growth.”

This partnership underscores BVP’s commitment to scaling high-potential consumer startups in India, a mission that aligns with its previous investments in successful brands like Bigbasket, Swiggy, and Urban Company. BVP’s investment in Boldfit is expected to accelerate the startup’s growth, allowing it to establish a stronger foothold in both urban and rural markets as it aims to reach millions of Indian fitness enthusiasts.

Aiming for the Next Leap in India’s Fitness Revolution

Boldfit’s plans for the future include increasing its offerings in categories like activewear, athleisure, and footwear, which already contribute significantly to the business. With a rapidly expanding customer base and strong brand partnerships, including collaborations with IPL teams like Mumbai Indians, Chennai Super Kings, and Royal Challengers Bangalore, Boldfit is poised to take India’s fitness market by storm.

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As the country’s demand for high-quality fitness products continues to rise, Boldfit’s goal is clear: to become India’s go-to brand for fitness and wellness, setting new standards in quality and accessibility while encouraging a healthier, more active lifestyle for all.