D2C fitness and sportswear brand Boldfit has raised around ₹400 crore (approximately $41.8 million) from Bharat Value Fund as part of its Series B funding round. Bharat Value Fund is a Category II Alternative Investment Fund managed by The Wealth Company Alternates, part of the Pantomath Group.

Founded in 2018 by Pallav Bihani, the Bengaluru-based company sells performance sportswear, athletic footwear, sports equipment and fitness essentials. Boldfit claims to serve more than 2 crore customers annually across India, and says it has grown at over 80 percent annually over the past three years, according to a Moneycontrol report on 12 October 2026.

The fresh capital will be used to expand Boldfit's retail presence across India, invest in product innovation and strengthen its manufacturing capabilities. The company also plans to explore selective acquisitions to widen its product categories and reach.

This is Boldfit's second large institutional round. In November 2024, the company had raised ₹110 crore from Bessemer Venture Partners to begin building an offline retail network. With the latest round, Boldfit's total funding has crossed ₹510 crore. Its investor base also includes cricketer KL Rahul and former tennis player Sania Mirza.

The timing taps into a fast-growing market: India's fitness and sports goods market is estimated at $16 billion and projected to reach $35 billion by FY31, driven by rising disposable incomes, health awareness and quick commerce. Investor interest in sportswear has stayed strong — in June, Agilitas raised ₹225 crore from Nexus Venture Partners and Rainmatter, while athleisure brand CAVA closed a ₹40 crore Series A in January.

Why it matters for founders

Boldfit's ₹400 crore Series B shows that capital is flowing to brands that combine D2C momentum with real manufacturing and retail infrastructure. For founders in consumer brands, the lesson is clear: online traction alone is no longer enough — investors are backing teams that own product innovation, build physical retail and can acquire their way into adjacent categories.