D2C activewear brand BlissClub raises Rs 33 crore in round led by Elevation Capital
BlissClub, a direct-to-consumer (D2C) activewear brand focussed on women, has raised Rs 33 crore in a round led by existing investor Elevation Capital.
The round also saw participation from Eight Roads Ventures.
The company's board passed a resolution to issue 16,076 compulsory convertible preference shares at a premium of Rs 20,427 each to raise Rs 33 crore, as per filings sourced from the business intelligence platform Tofler.
The funds will be used for meeting working capital requirements, capital expenditure and other general corporate purposes, it said.
Post allotment, Elevation Capital holds a 24.5% stake, while Eight Roads Ventures holds a 15.79% stake.
Founded in 2020, the Bengaluru-based startup which started off selling its activewear products online later diversified into opening offline stories as it competes with fast fashion brands. It also sells through its own website as well as on ecommerce platforms.
It generated a revenue of Rs 92 crore for the financial year ending on March 31, 2024, as per Tracxn data. BlissClub is yet to file its financial statements for FY25 with the Registrar of Companies (RoC).
It last raised $15 million in 2022 in a funding round led by Eight Roads Ventures and Elevation Capital.
In December last year, ET reported that Lifestyle activewear brand Terractive has raised Rs 8 crore in a funding round led by Fireside Ventures and DeVC (anchored by Z47).
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