- D2C athleisure brand has raised over $40.95m so far.
Bengaluru-based D2C athleisure brand BlissClub has raised Rs160 crore (approximately $16.8 million) in a Series B funding round led by Singularity AMC, marking one of the more closely watched deals in India’s direct-to-consumer apparel space this year.
The round, also saw participation from founder and CEO Minu Margeret, her partner and Meesho co-founder Vidit Aatrey, and existing backers Elevation Capital and Eight Roads Ventures.
The fresh infusion brings BlissClub’s total capital raised to over $40.95 million, building on its previous $15 million Series A round in May 2022, which was led by Eight Roads Ventures with Elevation Capital participating.
Offline push and category expansion
BlissClub plans to deploy the new capital across four strategic fronts: expanding into new product categories, scaling its offline retail footprint, strengthening in-house product development capabilities, and hiring talent to support its next growth phase.
The company has already evolved considerably from its origins as an online-first, women-focused activewear brand. It now operates an omnichannel model with more than 40 brick-and-mortar stores across India, and recently launched a menswear line — a move that signals broader ambitions beyond its core women’s athleisure segment.
The brand’s portfolio spans leggings, tops, outerwear, and accessories, all developed through in-house research and sourcing. BlissClub sells through its own website, major online marketplaces, and its expanding network of offline retail stores.
Financial trajectory
BlissClub has shown steady improvement in its operating metrics. In FY25, the company’s operating revenue grew approximately 50 per cent year-on-year to Rs135.5 crore, up from Rs92.2 crore (some reports cite Rs87 crore) in FY24. During the same period, the company also managed to more than halve its losses, aided in part by reduced employee costs.
The company has yet to file its annual financial report for FY26, though reports suggest it is targeting net revenue of Rs200 crore for the current fiscal year.
A founder-led growth story
Founded in 2020 by Minu Margeret, BlissClub entered the market with a clear thesis: Indian women lacked access to technical activewear designed specifically for their needs, body types, and climate conditions. Margeret, a fitness enthusiast herself, identified a gap between expensive international brands and poor-quality local alternatives — and built BlissClub to fill it.
The brand’s early success was fueled by community-driven marketing and a product philosophy rooted in in-house fabric research. Over six years, BlissClub has grown from a D2C upstart into one of India’s most recognisable homegrown athleisure labels, now competing with both legacy sportswear giants and a wave of new-age D2C apparel brands.
Margeret’s personal participation in the Series B round — alongside Vidit Aatrey, whose experience scaling Meesho into an e-commerce behemoth brings strategic heft — underscores founder confidence in the company’s trajectory.
BlissClub’s fundraise comes at a time when India’s athleisure and activewear market is seeing heightened investor interest. A growing base of fitness-conscious consumers, rising disposable incomes in Tier-1 and Tier-2 cities, and post-pandemic wardrobe shifts have all contributed to sustained demand for functional yet stylish apparel.
With over 40 stores already operational and plans to deepen its offline presence, BlissClub is betting that a blended physical-digital approach will be key to capturing share in a market where touch, fit, and fabric feel remain critical purchase drivers. The menswear expansion further widens the brand’s addressable audience, positioning it as a full-spectrum athleisure player rather than a women-centric niche brand.
The Series B round, led by a prominent institutional investor in Singularity AMC and backed by returning investors Eight Roads and Elevation Capital, provides BlissClub with the runway to execute on these ambitions at a time when the Indian D2C ecosystem is maturing and consolidation pressures are mounting.