Bengaluru-based D2C fitness startup Boldfit has raised INR 110 Cr (approximately $13 million) in a new funding round led by Bessemer Venture Partners.
The company plans to use the funds to drive product innovation and expand its brand presence, according to ET. Boldfit, founded in 2018 by Pallav Bihani, offers over 400 affordable products across categories such as fitness equipment, yoga accessories, supplements, and athleisure.
In addition to enhancing its product range, Boldfit aims to open offline stores in the next 12 to 18 months. “As we build a larger fitness brand, categories like activewear, athleisure, and footwear will play a critical role in our growth,” said Bihani.
This funding round follows an investment by cricketer KL Rahul, as the company looks to innovate within its existing categories and expand its footprint in the Middle East.
The Indian fitness market, valued at $20 billion in 2023, is projected to grow to $32 billion by 2028, at an annual rate of 27%.