Total amount raised
$20.3 Millions
Latest funding date
Location
BlissClub has successfully raised funding through multiple rounds, with notable investors including Sumer Juneja and Eight Roads Ventures. The company is focused on providing high-quality activewear for women, emphasizing comfort and functionality.
Keep reading to explore the intricacies of BlissClub's fundraising journey and the investors backing this innovative brand.
What Is BlissClub?
BlissClub, founded in 2019 by Minu Margeret, is a Bengaluru-based company specializing in women's activewear. The brand focuses on creating comfortable and functional gym and yoga wear tailored for women.
With a team of 51-100 employees, BlissClub aims to provide versatile apparel suitable for various activities, from workouts to casual wear. Their product range includes leggings, pants, tops, sports bras, and swimwear.
BlissClub's mission is to empower women through high-quality activewear that supports their active lifestyles. The company continues to grow, driven by its commitment to comfort and functionality.
How Much Funding Has BlissClub Raised?
- Seed Round
- Amount Raised: $2.3M
- Date: May 2021
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To hire talent, develop products, and fund marketing activities.
- Debt Financing
- Amount Raised: $3M
- Date: May 2022
- Lead Investors: Stride Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely to support the company's growth and operational needs.
- Series A
- Amount Raised: $15M
- Date: May 2022
- Lead Investors: Eight Roads Ventures, Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund research and development, product development, team expansion, and to develop an omnichannel approach.
BlissClub has raised a total of $20.3M. The current valuation is not publicly disclosed.
Key Investors
- Eight Roads Ventures
- Details: Eight Roads Ventures is a global venture capital firm that invests in high-growth technology and healthcare companies. They have a strong presence in various markets, including the US, Europe, and Asia.
- Investment Focus Areas: Technology, healthcare, consumer products, financial services
- Notable Investments: Alibaba, App Annie, NeoPhotonics
- Elevation Capital
- Details: Elevation Capital, formerly known as SAIF Partners, is a leading venture capital firm that invests in early-stage and growth-stage companies in India. They focus on sectors like consumer internet, technology, and financial services.
- Investment Focus Areas: Consumer internet, technology, financial services, healthcare
- Notable Investments: Paytm, Swiggy, UrbanClap (now Urban Company)
- Stride Ventures
- Details: Stride Ventures is a venture debt fund that provides debt financing to startups. They focus on supporting high-growth companies across various sectors.
- Investment Focus Areas: Debt financing for startups across various sectors
- Notable Investments: Stellapps, Miko, SUGAR Cosmetics
- Sriharsha Majety
- Details: Sriharsha Majety is the CEO and co-founder of Swiggy, a leading food delivery platform in India. He has been instrumental in scaling Swiggy to become one of the largest food delivery services in the country.
- Investment Focus Areas: Technology, consumer services
- Notable Investments: Swiggy (as CEO and co-founder)
- Ghazal Alagh
- Details: Ghazal Alagh is the co-founder of Mamaearth, a personal care brand that focuses on natural and toxin-free products. She has played a key role in establishing Mamaearth as a trusted brand in the personal care industry.
- Investment Focus Areas: Personal care, consumer goods
- Notable Investments: Mamaearth (as co-founder)
What's Next for BlissClub?
BlissClub stands at the cusp of significant growth, driven by the booming Indian D2C market, which is projected to reach $100 billion by 2025. The company plans to expand its product lines, develop a dedicated mobile app, and enhance its omnichannel presence. With a focus on women's fitness and wellness, BlissClub aims to achieve an annual revenue run-rate of INR 100 crore, leveraging its strong online sales and high customer retention rates.
Future fundraising opportunities appear promising as BlissClub continues to scale. The successful Series A round and the involvement of high-profile investors suggest potential for further rounds to support expansion and technological advancements. However, the company may face challenges such as intense competition, maintaining product quality, and managing rapid growth. Navigating these hurdles will be crucial for BlissClub to sustain its momentum and achieve its ambitious goals.
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