BlissClub, an energetic life put on model for Indian girls, has raised $18 million in funding. Out of this, it raised $15 million in its Series A spherical, led by Eight Roads Ventures and Elevation Capital. It raised $3 million in debt from Stride Ventures.
The firm has seen 25X progress in simply 10 months, having gone from elevating a seed spherical in May 2021 to present Series A in lower than a yr. The firm mentioned it’s on observe to turning into one of many quickest manufacturers to hit the Rs 100 crore annual recurring income (ARR) milestone in India.
The funding spherical additionally noticed participation from notable angel buyers, together with Sriharsha Majety (CEO, Swiggy); Ghazal Alagh (co-founder, Mamaearth); Vivek Gupta and Abhay Hanjura (co-founders, Licious); Amar Nagaram (ex CEO, Myntra); Munish Varma and Sumer Juneja (amongst different SoftBank executives); Brennan Loh (Shopify) and Masoom Minawala (vogue influencer).
The funding will probably be used for analysis and improvement and product improvement. It could be used for unlocking progress channels together with BlissClub’s app and offline. The agency additionally plans on doubling its group measurement, strengthening its workforce, hiring throughout all features together with tech, advertising, enterprise, operations and product design.
BlissClub was based in 2020 by Minu Margeret as a community-first model. Margaret, an ISB alumnus and a nationwide stage final frisbee participant, has beforehand labored at manufacturers like PhonePe, ABInBev and HUL, earlier than founding BlissClub.
“Women’s health has been a totally white area in India, we have now simply not had anybody construct for us. The restricted definition of health for girls has been restricted to weight reduction journeys,” mentioned Minu Margeret, founder and CEO, BlissClub says. “We are on a mission to construct a wellness ecosystem for the ladies of India and are simply getting began.”
BlissClub has grown 45 per cent month-on-month with solely 10 merchandise, supported by our rising buyer base. The agency mentioned it’s specializing in innovation and engineering unimaginable materials whereas fixing particular issues of ladies and constructing a hero merchandise solely portfolio.
“We have an unimaginable expertise pool and our progress is a mirrored image of the efforts by group BlissClub,” mentioned Margeret. “We are 55 per cent girls and over 60 per cent of management roles are held by girls.”
This fundraise comes lower than a yr after BlissClub raised $2.25 million in seed funding.
Shweta Bhatia, associate and head of know-how Investments India, Eight Roads Ventures mentioned Activewear has turn into one of many fastest-growing attire classes globally, together with India, pushed by an growing curiosity in health and a shift in direction of comfy clothes. “BlissClub has obtained unparalleled buyer love and it’s not stunning that they’re one of many fastest-growing D2C manufacturers in India at this time,” mentioned Bhatia.
Chirag Chadha, vice chairman, Elevation Capital, mentioned BlissClub has grown 25X because the enterprise capital agency’s seed funding whereas sustaining industry-leading NPS (internet promoter rating) scores and repeat metrics. “This is an end result of a large unmet want in the market, and Minu (Margeret) and group’s razor-sharp give attention to execution and model constructing.”
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