VC Fund Investments
Women activewear brand Blissclub raises Rs.45-Cr from existing investors
Bengaluru-based women wellness focused direct-to-consumer (D2C) activewear brand Blissclub has raised INR 45 crore (around USD 5.3 million) in a mix of debt and equity funding led by existing investor Elevation Capital, with participation from another existing investor Eight Roads Ventures, and venture debt firm Alteria Capital.The company has allotted 16,076 pre-Series B CCPS (compulsorily convertible preference shares) at INR 20,528 each and 1,200 non-convertible debentures (NCDs) at INR 1,00,000 each to the investors.Blissclub specializes in activewear, accessories, and lifestyle products. The company has also ventured into the travel wear segment. It sells its products through its own website as well as e-commerce platforms like Myntra, Amazon, and AJIO.
Between Apr 2021 and May 2022, Blissclub had raised about USD 20 M from Arun Sarin Family, Eight Roads Ventures, Elevation Capital, Stride Ventures and Good Capital.For FY24, Blissclub had reported about INR 87 Cr in Operating Income and about INR 44 Cr in Net Loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
