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Decoding: Boldfit founders retain 78.23% stake after Rs 400 Cr Series B

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Decoding: Boldfit founders retain 78.23% stake after Rs 400 Cr Series B

KL Rahul-backed sports and fitness brand Boldfit has raised Rs 400 crore in its Series B round from The Bharat Value Fund, managed by The Wealth Company (formerly Pantomath Capital Management), at a valuation of Rs 4,000 crore. The founder still holds over 77%, a rarity in India’s fitness and wellness segment, where D2C brands typically give up significant equity to investors well before reaching this scale.

Entrackr examined Bengaluru-based company's regulatory filings to decode the company's latest funding round, updated captable, and post-money valuation. 

According to the company's regulatory filings accessed by Entrackr, Boldfit's board approved the allotment of 12,783 Series B compulsorily convertible preference shares (CCPS) at an issue price of Rs 3,12,926.47 per share, aggregating to approximately Rs 400 crore.

The Bharat Value Fund was the sole investor in the Rs 400 crore funding round.

As per Entrackr estimated, Boldfit's valuation jumped 5.71X to Rs 4,000 crore in its Series B round from Rs 700 crore in Series A.

The fresh capital will be used to expand its nationwide retail presence, invest in product innovation and manufacturing, and selectively pursue inorganic opportunities to strengthen its presence across categories.

Co-founded in 2018 by Pallav Bihani and Aasshna Guptaa, Boldfit is an e-commerce platform that offers sports and fitness products across categories such as apparel, fitness equipment, nutrition supplements and accessories. Its portfolio covers sports such as basketball, cycling, football, volleyball, badminton and cricket, with over 400 products.

In November 2024 the company had raised Rs 110 crore in a Series A funding round led by Bessemer Venture Partners.


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