BlissClub is an internet-first brand offering sportswear for women. The startup raised Rs 45 crore from its existing investor Elevation Capital in a debt and equity funding round. The round saw the participation of Alteria Capital and Eight Road Ventures. The startup plans to use these fresh proceeds to scale its business, enhance its platform, support the company’s needs, and develop its market presence. The firm recently entered the travel wear market segment. 

The board has approved a special resolution to allot 16,076 series B compulsory convertible preference shares at an issue price of Rs 20,528 per share and 1,200 non-convertible debentures at an issue price of Rs 1,00,000 each to raise Rs 45 crore. The startup intends to use the fresh capital for general corporate purposes and expand its network. The company offers an online platform to sell its women-centric wellness products, including accessories and lifestyle products. The product catalog includes active wear like hoodies, leggings, sets, and tank tops.

The company has secured over 26 million USD across multiple funding rounds since its inception. This includes $15 million raised in its series A funding round and $3.01 million from Alteria Capital in its venture debt round. The startup is valued at 67 million USD. After this round, the existing investor Elevation Capital holds 24.5 percent of the firm’s stake and remains the firm’s largest external stakeholder, followed by Eight Roads Ventures with 15.79 percent. 

The startup might use some of this investment to strengthen its position in the D2C sector. BlissClub is an internet-first brand that claims to use stretch polyester blend materials to manufacture its products. The new fund will enable the startup to expand its offerings into a new sector. The investment highlights investors’ interest in BlissClub’s market potential and business model. The new investment round followed increased investor interest in the D2C sector. 

The Bengaluru-based company reported a 27 percent increase in its operating revenue to Rs 87 crore in FY24. The net loss was around Rs 44 crore in the same duration. The company is yet to announce its financial results for FY25. BlissClub sells its products through its website and e-commerce platforms like Amazon and Myntra. The startup faces competition from other women’s activewear brands in this market segment, such as Technosport, CAVA, and Gokyo. The firm also receives investment from QED Innovation.

Conclusion:

BlissClub is a Bengaluru-based D2C startup offering activewear, accessories, and lifestyle products for women. The company raised around 5.3 million USD in its debt and equity funding round from Elevation Capital, with the participation from Alteria Capital and Eight Road Ventures. The D2C startup aims to use these fresh proceeds to expand its portfolio and scale its business. 

The board allotted 16,076 series B CCPS for Rs 10,528 per share and 1,200 non-convertible debentures for Rs 1,00,000 each to raise $5.3 million. The company plans to use this amount for general corporate purposes. After this round, the existing investor, Elevation Capital, remained the largest external stakeholder of the firm.