Homegrown sports brand Boldfit has raised over Rs 400 crore in a Series B funding round led by Bharat Value Fund, which is managed by The Wealth Company Alternates, part of Pantomath Group. Existing investor Bessemer Venture Partners also participated in the round.
The fresh capital will be used to expand the company’s retail presence across the country, invest in product innovation and strengthen manufacturing. Boldfit also plans to selectively pursue inorganic opportunities to build its category presence and capabilities.
Founded by Pallav Bihani, Boldfit operates across performance sportswear, athletic footwear, sports equipment and fitness essentials. The company serves over 2 crore customers annually and is strengthening its integrated product development and manufacturing capabilities, with a focus on innovation, quality and long-term competitive advantages.
The Series B follows a Rs 110 crore Series A round led by Bessemer Venture Partners in 2024. Cricketer KL Rahul and tennis player Sania Mirza are also among Boldfit’s investors. Avendus Capital was the exclusive financial advisor to Boldfit on the transaction.
For Bharat Value Fund, the investment is its largest in the consumer sector to date.
Pallav Bihani, Founder and CEO, Boldfit said, “We believe India is entering a defining era for sport. Our ambition is to see India become a sporting powerhouse, with greater participation, stronger sporting talent and many more medals on the world stage. Boldfit intends to play a meaningful role in that transformation. We’re building a deeply integrated sports business, investing in product innovation, manufacturing excellence and nationwide retail to create the scale and capabilities required to serve India’s sporting ambitions. We’re delighted to welcome Bharat Value Fund as our partners. This investment marks an important step towards building an institution that can shape Indian sport for decades to come.”
Madhu Lunawat, Founder and Whole-time Director, The Wealth Company Asset Management Private Limited, added, “India is undergoing a fundamental shift in how it engages with fitness and sports. Active living is no longer confined to a facility or occasional play- it is transitioning into a frequent, daily household habit across the country. Pallav has achieved what few direct-to-consumer founders are able to manage – rapid, category-defining scale anchored by profitability. . Our investment reflects our conviction in the company’s growth potential and our approach of partnering with businesses that have the ability to build enduring scale and long-term value.”
