Latest news with #EightRoadsVentures
Fashion Network
08-05-2025
- Business
- Fashion Network
Blissclub raises Rs 33 crore in new funding round
Direct to customer active wear brand Blissclub has raised Rs 33 crore in a new fund round. Led by existing investor Elevation Capital, the round follows a $15 million fundraise in 2022, led by both Elevation Capital and Eight Roads Ventures. Blissclub plans to utilise its new funding for capital expenditure, to meet working capital requirements, and for general corporate purposes, ET Retail reported. The business' board of directors passed a resolution to issue a total of 16,076 compulsory convertible preference shares at Rs 20,427 apiece to raise Rs 33 crore. Following the share allotment, Elevation Capital now has a 24.5% stake in the business, followed by Eight Roads Ventures' stake of 15.79%. The brand also continues to expand its product selection and recently debuted its new 'BareButter' collection of women's apparel, designed for travel and the airport, Blissclub announced on Facebook. The label also expanded its colour offering for its signature 'Flare' pants. Blissclub was established in 2020 in Bengaluru and began as an e-commerce business. After stepping into the world of brick-and-mortar retail, the label today counts around 125 employees and is ranked second amongst 95 active competitors, according to business ratings agency Tracxn.
Business Mayor
07-05-2025
- Business
- Business Mayor
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). READ SOURCE
Entrepreneur
07-05-2025
- Business
- Entrepreneur
Women-Focused Brand BlissClub Secures INR 45 Cr from Elevation Capital, Eight Roads & Alteria
The fresh funds will be deployed towards business growth, market expansion, and general corporate purposes. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Women-focused activewear brand BlissClub has raised INR 45 crore (~USD 5.3 million) in a mix of equity and debt funding to fuel its expansion plans. The round was led by existing investor Elevation Capital, with participation from Eight Roads Ventures and debt contribution from Alteria Capital. The fresh funds will be deployed towards business growth, market expansion, and general corporate purposes, according to the company's filings with the Registrar of Companies (RoC). BlissClub allotted 16,076 CCPS shares at INR 20,528 each and 1,200 non-convertible debentures at INR 1,00,000 apiece to raise the capital. Founded in 2020 by Minu Margeret, BlissClub is a Bengaluru-based D2C brand catering exclusively to women. It offers a diverse portfolio of "movewear" including leggings, tops, outerwear, shorts, and innerwear, as well as accessories and wellness essentials. Recently, it also entered the travel wear segment, broadening its lifestyle offering. Products are available via its website and leading marketplaces like Myntra, Amazon, and AJIO. Post the funding, Elevation Capital holds a 24.5% stake in the company, followed by Eight Roads Ventures at 15.79%. BlissClub has raised close to USD 26 million to date, including debt, according to data from TheKredible. In FY24, the company reported a 27% jump in operating revenue to INR 87 crore, though losses stood at INR 44 crore. With the latest infusion, BlissClub aims to accelerate growth while building on its loyal customer base and expanding its category footprint.
