D2C activewear brand BlissClub has raised $15 million in funding led by Eight Roads and Elevation Capital
- ByStartupStory | May 18, 2022
BlissClub is a Bengaluru-based direct-to-consumer women’s activewear brand that has raised $15 million in its new funding round that was led by Eight Roads Venture and Elevation Capital. Although the company did not disclose its valuation post-funding round. Renowned angel investors including Swiggy’s CEO Sriharsha Majety, Mamaearth co-founder Ghazal Alagh, Licious co-founders Vivek Gupta and Abhay Hanjura, and former Myntra CEO Amar Nagaram were among others who took part in the round.
The company had also recently received $3 million in debt funding from Stride Ventures. The Bengaluru-based startup had raised $2.25 million in its seed funding round in May last year. Soon after this, the sales of the company increased 25 times. Minu Margeret, the founder and CEO of the company said that the company was on track to touch Rs 100 crore in annual revenue run-rate and a forecasting method that helps in predicting the financial performance of a company based on the previous earnings.
The company at present generates nearly 5 crore revenue per month. She also said that the company just started off as an observation that became what we built out as a brand. And also whoever is buying activewear is speeding 45 minutes in the gym. She also confirmed that the company will further invest in its technology team and broaden its offline channels.
Shweta Bhatia, partner and head of technology investments in India at Eight Roads Ventures said that activewear has become one of the fast-growing attire categories worldwide. BlissClub has also got unparallel customer feedback and is no doubt the reason for the success of the D2C brand in India.
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