KL Rahul-Backed Boldfit Raises ₹400 Cr in Series B Funding

Boldfit, an Indian sports and fitness brand backed by cricketer KL Rahul, has raised more than ₹400 crore in a Series B funding round led by Bharat Value Fund. The fund is managed by The Wealth Company Alternates, part of the Pantomath Group. Existing investor Bessemer Venture Partners also participated.

The Bengaluru-based company plans to use the capital to expand its retail presence across India, develop new products, strengthen manufacturing capabilities and selectively pursue acquisitions to expand its business.

Boldfit's latest funding round

The Series B round marks another major funding milestone for Boldfit as it looks to grow beyond its online business and build a broader sports and fitness brand.

The company previously raised ₹110 crore, approximately $13 million, in a funding round led by Bessemer Venture Partners in November 2024. It also secured $8.37 million from existing investors, including KL Rahul, according to the source report.

The latest investment brings in Bharat Value Fund as the lead investor, while Bessemer continues its backing of the company.

Building a sports and fitness brand for India

Founded in 2018 by Pallav Bihani and Aasshna Guptaa, Boldfit sells sports and fitness products across several categories, including apparel, exercise equipment, nutrition supplements and accessories.

Its catalogue spans activities such as cricket, football, basketball, cycling, volleyball and badminton. The company offers more than 400 products and says it serves over two crore customers annually.

Boldfit aims to build a sports brand for a billion Indians by combining product development, manufacturing and nationwide distribution. The new funding is expected to support that ambition through expanded retail access and continued investment in its product portfolio.

Revenue and profitability have grown

Boldfit's reported financial performance showed strong growth in FY25.

Its operating revenue increased 2.17 times to ₹304 crore in FY25, compared with ₹140 crore in FY24. Profit rose to ₹35 crore from ₹16.82 crore over the same period.

The company had not yet filed its FY26 financial statements at the time of the source report, so its latest annual revenue and profit figures were not available there.

Expansion beyond online sales

The funding will support nationwide retail expansion alongside product innovation and manufacturing investments. Boldfit also plans to explore selective acquisitions that could strengthen its capabilities and expand its presence across product categories.

Building a stronger manufacturing base could help the company exercise greater control over product quality and development. A wider retail network could also help it reach customers who prefer to explore sports and fitness products in physical stores rather than relying solely on e-commerce.

The company's ability to balance expansion with profitability will be important as it increases investment in distribution and operations.

India's sports and fitness market attracts investors

Boldfit's fundraise comes amid continued investment in India's sports and fitness industry.

Agilitas, a sportswear platform, raised ₹225 crore from Nexus Venture Partners and Rainmatter in June 2026 to strengthen manufacturing, brand development, retail and technology.

PlayBlue raised $2.7 million in seed funding in July 2026 to develop an omnichannel sports retail business combining e-commerce with physical stores.

These businesses have different operating models, but their funding rounds point to investor interest in companies building sports brands, retail platforms and manufacturing capabilities for the Indian market.

For Boldfit, the next phase will centre on turning its existing customer base and product range into a stronger nationwide business. Its ability to grow retail distribution, introduce successful products and maintain financial performance will shape the impact of this latest investment.