Boldfit, an Indian sports and fitness brand, has raised more than Rs 400 crore in a Series B funding round led by Bharat Value Fund, according to Business Today, Entrepreneur India and Apparel Views, which reported the deal on 13 October 2026. Bharat Value Fund is managed by The Wealth Company Alternates, part of the Pantomath Group, according to the reports. Indian Retailer put the amount at 41.8 million dollars.
Bessemer Venture Partners, an existing investor, also took part in the round, according to the reports. Boldfit had raised Rs 110 crore from Bessemer in a Series A round in 2024, so the new round brings the total raised to more than Rs 510 crore, a sum that matches the reports’ figure. The new round is nearly four times the Series A, a ratio of 400 to 110 calculated by IndiaX24.
The brand has celebrity backers. The cricketer KL Rahul invested in Boldfit in July 2024 and is also its brand ambassador, and the former tennis player Sania Mirza is among its other celebrity investors, according to the reports.
The money has stated uses. The fresh capital will go towards nationwide retail expansion, product innovation and manufacturing, and the company also plans to pursue acquisitions selectively to strengthen its position in the category, according to the reports. A move into physical stores is a significant change for a brand that began online, and Business Today’s headline describes the story as ‘from D2C to retail’.
The company has made claims about its growth. It says it has grown at a compound annual rate of more than 80 per cent over the past three years and that it serves more than two crore customers a year, according to the reports. Those are the company’s own statements, and the reports reviewed do not give its revenue or profit, so IndiaX24 cannot say how large the business is or whether it makes money.
The conversion of the amounts is consistent. Rs 400 crore at about 41.8 million dollars implies an exchange rate of about Rs 95.7 to the dollar, a division by IndiaX24 that is close to the rate of 94.79 reported for the rupee on Friday, as IndiaX24 has reported.
The competitive question is raised by Open magazine, whose headline asks whether Boldfit can compete with Decathlon’s dominance of sports retail. IndiaX24 has not read the article and reports only that the question has been posed. Decathlon is a large French sports retailer with stores in India, which is general background.
Fitness and sports goods have attracted investors as more Indians take up exercise and as national sporting successes draw attention. The reports reviewed do not give market data, and IndiaX24 does not attribute the investors’ decision to any single cause.
The size of the round can be compared with others this month. Boldfit’s Rs 400 crore is larger than the 25 million dollar Scimplify round and the 29 million dollar RapidCanvas round that IndiaX24 has reported, which come to about Rs 238 crore and Rs 276 crore at 95 rupees to the dollar, a rough conversion by IndiaX24 with an assumed exchange rate. Boldfit’s round is therefore among the larger consumer-brand rounds of the month, though the reports reviewed do not rank it.
It will report if Boldfit announces store openings or acquisitions.
Image: Dumbbells at a gym (file photo; a stand-in image). Photo by Ser Amantio di Nicolao, licensed under CC BY-SA 4.0, via Wikimedia Commons.
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