Agilitas Sports Secures INR 100 Crore Funding from Nexus Venture Partners to Fuel Growth in India’s Sportswear Market

• ByStartupStory     |    December 14, 2023

In a strategic move, Agilitas Sports, founded by Abhishek Ganguly, former Managing Director of Puma (India & South-East Asia), has secured a significant funding injection of INR 100 Crore from Nexus Venture Partners. With a focus on becoming a sustainable force in India’s burgeoning sportswear market, Agilitas Sports plans to utilize the capital for its expansion across research, manufacturing, and retail.

Abhishek Ganguly, Co-founder and CEO of Agilitas Sports, expressed enthusiasm about the collaboration with Nexus Venture Partners, citing their valuable expertise in building digital platforms and technology companies in both the US and India. Ganguly emphasized that the infusion of capital would accelerate the company’s scale-up trajectory.

Suvir Sujan, Co-founder of Nexus Venture Partners, highlighted the alignment of visions between the two entities, considering India’s rapid embrace of a health-conscious lifestyle. He emphasized Nexus’s commitment to supporting Agilitas Sports in propelling a generation through sports.

This funding from Nexus Venture Partners follows a previously successful funding round earlier this year, where Convergent Finance, led by Harsha Raghavan, invested a substantial INR 400 Crore in Agilitas Sports.

Agilitas Sports has not only focused on financial investments but also made a strategic move in acquiring B2B footwear manufacturing firm Mochiko Shoes for an undisclosed amount. According to Ganguly, the acquisition of Mochiko Shoes is integral to the overall business model, with expectations of generating nearly INR 800 Crore in revenue this year.

Co-founders Atul Bajaj and Amit Prabhu, both with extensive experience in Puma India, reiterated their strong belief in manufacturing in India and being close to the market. Ganguly emphasized that the acquisition of Mochiko stands as a key pillar in their overall strategy, enabling them to manufacture for numerous global brands.

As Agilitas Sports continues to fortify its position in India’s sportswear market, the recent funding and strategic acquisitions position the company for robust growth, with an optimistic outlook for the upcoming year.

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