Bharat Value Fund, belonging to The Wealth Company Alternates, has invested approximately 400 crore rupees in Boldfit, a domestic sports brand, as part of a Series B funding round.
According to the statement, these funds will be directed towards supporting the next stage of Boldfit's development, including expanding the retail network across the country, implementing product innovations, and developing production. The company also plans to selectively pursue inorganic opportunities to strengthen its presence and competencies in this category.
Boldfit was founded in 2018 by Pallav Bihani. Previously, in 2024, the company raised 110 crore rupees from the global venture firm Bessemer Venture Partners during a Series A round. Boldfit also includes well-known Indian athletes KL Rahul and Sania Mirza among its investors.
Pallav Bihani, founder and CEO of Boldfit, stated: 'We are building a deeply integrated sports business by investing in product refinement, manufacturing capabilities, and nationwide retail to achieve the scale and capability needed to meet India's sporting ambitions.'
This is the fourth investment by Bharat Value Fund in the last 12 months, with the average value of each deal being around 400 crore rupees.
Madhu Lunawat, founder and Managing Director of Wealth Company Asset Management Private Limited, commented: 'India is undergoing a fundamental shift in its approach to fitness and sports. An active lifestyle is no longer limited to an object or casual games—it is turning into an increasingly common daily habit across the country. Pallav has achieved what few founders of direct consumer brands can—a rapid, category-defining scale based on profitability. Our investment reflects our confidence in the company's growth potential and our approach to partnering with businesses capable of creating sustainable scale and long-term value.'
According to the statement, Boldfit serves over two crore customers annually and demonstrates a growth rate of over 80% in Compound Annual Growth Rate (CAGR) over the last three years.
The fitness and sports goods market in India is valued at approximately 16 billion US dollars and is projected to grow at a CAGR of over 16%, reaching 35 billion dollars by the 2031 fiscal year. This growth is driven by increased disposable incomes, a young population, growing health awareness, and the spread of active lifestyles and athleisure fashion.