On Thursday, BlissClub has raised $18 million in funding. Out of this, it raised $15 million in its Series A round, led by Eight Roads Ventures and Elevation Capital. It raised $3 million in debt from Stride Ventures.
The company has seen 25X growth in just 10 months, having gone from raising a seed round in May 2021 to current Series A in less than a year. The company said it is on track to becoming one of the fastest brands to hit the Rs 100 crore annual recurring revenue (ARR) milestone in India.
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The funding round also saw participation from notable angel investors, including 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 (among other SoftBank executives); Brennan Loh (Shopify) and Masoom Minawala (fashion influencer).
Funds will be used for R&D and product development. It will be used to unlock growth channels, including BlissClub’s app and offline. The company also plans to double the size of its team, strengthen its workforce, and hire across all functions, including technology, marketing, business, operations and product design.
“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,” said Minu Margeret, founder and CEO, BlissClub says. “We are on a mission to build a wellness ecosystem for the women of India and are just getting started.”
