BlissClub, a leading direct-to-consumer (D2C) sportswear brand, has successfully closed a new funding round, raising 160 crore rupees. The round was led by the investment fund Singularity AMC. Founder Min Margaret and her partner Vidit Atrey are investing significant personal capital in this round, alongside existing investors Elevation Capital and Eight Roads Ventures, who increased their stakes.
The funds raised will be used by the company to implement plans for expanding categories, strengthening offline retail sales, improving product development, and hiring personnel for the next stage of growth.
Min Margaret, founder of BlissClub, stated that she believes active lifestyle clothing is becoming an increasingly essential part of everyday wardrobes. She emphasized that the company's deep capabilities in product research and development and supplier sourcing give it a unique advantage in this category. This round will allow the realization of this vision by further investing in product innovation, expanding offline presence, and making BlissClub accessible to a larger number of consumers across the country.
The company was founded in 2020 with the goal of creating sportswear specifically designed for Indian women, as this niche was underserved by both global and local brands. Since then, BlissClub has evolved into a full-fledged omnichannel business. Over the past two years, its revenue has grown steadily by more than 60% year-on-year, and its retail network has expanded to over 40 stores. This year, the company entered the men's apparel market for the first time. A significant part of this growth is attributed to the loyal customer base built around the BlissClub community through products, content, and events.
Singularity's investment is led by Sandeep Bapat, the firm's Director of Investments. His participation brings a combination of experience in public market investing, as well as in consumer goods and D2C.
Sandeep Bapat, Co-founder of Singularity AMC's investment division, noted that the BlissClub team made a strong impression on them due to the thoughtful building of a strong brand and business in the fast-growing categories of comfortable and sportswear in India. He added that this fundraising will enable the company to continue expanding both in offline and online channels.
