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Business News›Tech›Funding›Boldfit gets Rs 110 crore investment from Bessemer
Venture Partners



THE ECONOMIC TIMES DAILY NEWSPAPER IS AVAILABLE ONLINE NOW.

Read Today's Paper


BOLDFIT GETS RS 110 CRORE INVESTMENT FROM BESSEMER VENTURE PARTNERS

SECTIONS
Boldfit gets Rs 110 crore investment from Bessemer Venture Partners
By
Kumari Rajlakshmi Singh
&
Jessica Rajan
, ETtechLast Updated: Nov 07, 2024, 12:06:00 PM IST
Synopsis


THE STARTUP BACKED BY CRICKETER KL RAHUL WILL USE THE FUNDS TO ENHANCE PRODUCT
INNOVATION AND EXPAND ITS BRAND PRESENCE. THE BRAND SELLS ITS PRODUCTS ON
ECOMMERCE MARKETPLACES, QUICK-COMMERCE PLATFORMS AND THROUGH ITS OWN D2C
CHANNEL. IT PLANS TO OPEN OFFLINE STORES WITHIN THE NEXT 12 TO 18 MONTHS.

ETtechBoldfit founder Pallav Bihani and cricketer KL Rahul
Boldfit, a direct-to-consumer brand of fitness products, raised Rs 110 crore
(about $13 million) from venture capital firm Bessemer Venture Partners.


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The startup backed by cricketer KL Rahul will use the funds to enhance product
innovation and expand its brand presence.



Founded in 2018 by Pallav Bihani, the brand sells fitness accessories, core
sports equipment and workout apparel.


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“We started our business with fitness equipment, and that continues to grow for
us over 100% year on year for the last four or five years,” Bihani told ET. “As
we build out a larger fitness powerhouse in the coming years, activewear,
athleisure and footwear will become crucial. We are actively exploring and
building these categories, which already contribute a significant portion of our
business.”

The brand sells its products on ecommerce marketplaces, quick-commerce platforms
and through its own D2C channel. It plans to open offline stores within the next
12 to 18 months.


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“Last year (fiscal 2024) we clocked about Rs 140 crore in revenue, and I think
this year looks pretty strong as well. There's a lot of headroom for growth, and
we're growing very rapidly as we speak,” he said. In FY23, it had reported
revenue of Rs 73 crore.



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Commenting on the investment, Anant Vidur Puri, partner at Bessemer Venture
Partners said: "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.”



Another startup in the sector, Bengaluru-headquartered Techno Sportswear, had
raised $25 million from investment fund A91 Partners in May this year.




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brandnutritional supplements



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   you to buy a product or visit a website, etc. This is very helpful to
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 * MEASURE CONTENT PERFORMANCE 327 PARTNERS CAN USE THIS PURPOSE
   
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   Information regarding which content is presented to you and how you interact
   with it can be used to determine whether the (non-advertising) content e.g.
   reached its intended audience and matched your interests. For instance,
   whether you read an article, watch a video, listen to a podcast or look at a
   product description, how long you spent on this service and the web pages you
   visit etc. This is very helpful to understand the relevance of
   (non-advertising) content that is shown to you.
   
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 * UNDERSTAND AUDIENCES THROUGH STATISTICS OR COMBINATIONS OF DATA FROM
   DIFFERENT SOURCES 413 PARTNERS CAN USE THIS PURPOSE
   
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   Reports can be generated based on the combination of data sets (like user
   profiles, statistics, market research, analytics data) regarding your
   interactions and those of other users with advertising or (non-advertising)
   content to identify common characteristics (for instance, to determine which
   target audiences are more receptive to an ad campaign or to certain
   contents).
   
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 * DEVELOP AND IMPROVE SERVICES 501 PARTNERS CAN USE THIS PURPOSE
   
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   Information about your activity on this service, such as your interaction
   with ads or content, can be very helpful to improve products and services and
   to build new products and services based on user interactions, the type of
   audience, etc. This specific purpose does not include the development or
   improvement of user profiles and identifiers.
   
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 * USE LIMITED DATA TO SELECT CONTENT 109 PARTNERS CAN USE THIS PURPOSE
   
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   Content presented to you on this service can be based on limited data, such
   as the website or app you are using, your non-precise location, your device
   type, or which content you are (or have been) interacting with (for example,
   to limit the number of times a video or an article is presented to you).
   
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USE PRECISE GEOLOCATION DATA 234 PARTNERS CAN USE THIS SPECIAL FEATURE

Use precise geolocation data


With your acceptance, your precise location (within a radius of less than 500
metres) may be used in support of the purposes explained in this notice.

List of IAB Vendors‎

ACTIVELY SCAN DEVICE CHARACTERISTICS FOR IDENTIFICATION 114 PARTNERS CAN USE
THIS SPECIAL FEATURE

Actively scan device characteristics for identification


With your acceptance, certain characteristics specific to your device might be
requested and used to distinguish it from other devices (such as the installed
fonts or plugins, the resolution of your screen) in support of the purposes
explained in this notice.

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ENSURE SECURITY, PREVENT AND DETECT FRAUD, AND FIX ERRORS 475 PARTNERS CAN USE
THIS SPECIAL PURPOSE

Always Active

Your data can be used to monitor for and prevent unusual and possibly fraudulent
activity (for example, regarding advertising, ad clicks by bots), and ensure
systems and processes work properly and securely. It can also be used to correct
any problems you, the publisher or the advertiser may encounter in the delivery
of content and ads and in your interaction with them.

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DELIVER AND PRESENT ADVERTISING AND CONTENT 471 PARTNERS CAN USE THIS SPECIAL
PURPOSE

Always Active

Certain information (like an IP address or device capabilities) is used to
ensure the technical compatibility of the content or advertising, and to
facilitate the transmission of the content or ad to your device.

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MATCH AND COMBINE DATA FROM OTHER DATA SOURCES 329 PARTNERS CAN USE THIS FEATURE

Always Active

Information about your activity on this service may be matched and combined with
other information relating to you and originating from various sources (for
instance your activity on a separate online service, your use of a loyalty card
in-store, or your answers to a survey), in support of the purposes explained in
this notice.

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LINK DIFFERENT DEVICES 302 PARTNERS CAN USE THIS FEATURE

Always Active

In support of the purposes explained in this notice, your device might be
considered as likely linked to other devices that belong to you or your
household (for instance because you are logged in to the same service on both
your phone and your computer, or because you may use the same Internet
connection on both devices).

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IDENTIFY DEVICES BASED ON INFORMATION TRANSMITTED AUTOMATICALLY 444 PARTNERS CAN
USE THIS FEATURE

Always Active

Your device might be distinguished from other devices based on information it
automatically sends when accessing the Internet (for instance, the IP address of
your Internet connection or the type of browser you are using) in support of the
purposes exposed in this notice.

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SAVE AND COMMUNICATE PRIVACY CHOICES 306 PARTNERS CAN USE THIS SPECIAL PURPOSE

Always Active

The choices you make regarding the purposes and entities listed in this notice
are saved and made available to those entities in the form of digital signals
(such as a string of characters). This is necessary in order to enable both this
service and those entities to respect such choices.

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