KL Rahul-backed Boldfit raises INR110 crore in first-round funding

Fitness brand Boldfit, backed by Indian professional cricket KL Rahul, has raised INR110 crore in its Series A Funding from global venture capital firm Bessemer Venture Partners.

Rahul was revealed as a brand ambassador and investor in the fitness brand earlier this year in July. 

Equi-T Partners was the exclusive financial adviser to Boldfit for this transaction. 

On the partnership and brand mission, Founder of Boldfit, Pallav Bihani, said: 

“This investment from Bessemer Venture Partners is a powerful endorsement of Boldfit’s vision to lead India’s fitness revolution. 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.“

Boldfit investor and brand ambassador KL Rahul commented: 

“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.“

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. We’re excited to partner with Pallav and the team in their next stage of growth.“

Boldfit was founded in 2018 and offers a wide range of activewear, sports and fitness accessories, and equipment. It has also collaborated with major Indian Premier League (IPL) franchises, such as the Mumbai Indians, the Chennai Super Kings, and the Royal Challengers Bengaluru.