Over ₹400 crore Series B led by Bharat Value Fund, a Category II AIF in the Pantomath Group, with Bessemer Venture Partners returning. It is by far Boldfit's largest round.
Unusually for a direct-to-consumer brand, Boldfit is profitable: FY25 profit of ₹35 crore on revenue of ₹304 crore, both roughly double the year before.
More than 2 crore customers a year against FY25 revenue of ₹304 crore points to small average purchases, consistent with a business built on low-priced fitness accessories.
The money goes into stores, manufacturing and acquisitions, the capital-heavy parts that an asset-light marketplace model avoided. Margins are what this trade puts at risk.
The model is Decathlon's: design, make and sell through your own stores. Agilitas and others are raising for the same integrated approach.
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