Bangalore, India-based D2C activewear brand for women BlissClub raised USD 15 million in its Series A funding. The round took place on May 18, 2022. Eight Roads Ventures and existing investor Elevation Capital led the funding for BlissClub. Angel investors such as Swiggy CEO Sriharsha Majety, co-Mamaearth co-founder Ghazal Alagh, Licious co-founders Vivek Gupta and Abhay Hanjura, former Myntra CEO Amar Nagaram, SoftBank executives Sumer Juneja and Munish Varma, Shopify executive Brennan Loh and global fashion influencer Masoom Minawala, also invested in the Series A round.
Purpose of Funding for BlissClub
With the recent funding, BlissClub will focus on research and development and build its product around it. Meanwhile, the activewear brand will seek to unlock growth channels, including BlissClub’s app.
In addition, the startup plans to double its team size and strengthen its workforce. It will look to hire across various functions such as tech, marketing, business, operations and product design.
What the founders have to say
Minu Margeret, Founder and CEO, BlissClub, said, “The last ten months have been an incredible journey for BlissClub. We have had a strong validation for our product, and there is a big and large problem to be addressed. We aim to build a whole ecosystem for women where we bring teachers, trainers, and women who want to meet one-on-one. I moved to a new community, and my husband is part of multiple WhatsApp groups for tennis, squash, etc. These are primarily male-run ones. I believe there is a larger problem, how can we build a community where half a billion women can be impacted?”
“Women’s fitness has been a completely white space in India. We have just not had anyone build for us. The limited definition of fitness for women has been restricted to weight-loss journeys. We at BlissClub believe in celebrating the movement journey,” she further said.
What the investors have to say
Shweta Bhatia, Partner and Head of Technology Investments India, Eight Roads Ventures, said, “Activewear has become one of the fastest-growing apparel categories globally, including India, driven by an increasing interest in fitness and shift towards comfortable clothing. BlissClub has received unparalleled customer love, and it’s not surprising that they are one of the fastest-growing D2C brands in India today. We are excited to partner with Minu and the BlissClub team, supporting them on their mission to bring high-quality, comfortable and performance-driven products tailor-made for Indian #WomenWhoMove.”
Chirag Chadha, Vice President, Elevation Capital, said, “BlissClub has grown 25X since our seed investment while maintaining industry-leading NPS scores and repeat metrics. They have been able to scale fast while maintaining some very healthy business metrics on the back of building innovative growth channels and their product obsession. The level of customer love BlissClub enjoys is unparalleled, and we have not seen this in many other brands. This is an outcome of a huge unmet need in the market, and Minu and the team’s razor-sharp focus on execution and brand building. We are super excited to double-down on our commitment to the company.”
About BlissClub
Minu Margeret, ISB alumni and a national level frisbee player, founded BlissClub in 2020. The startup designs Activewear specifically for Indian women. The platform has grown 45 per cent month-on-month. With only ten products, the startup enjoys a growing customer base. BlissClub focuses on innovation and engineering incredible fabrics while solving specific problems of women.
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