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D2C startup Blissclub secures fresh funds at flat valuation

EntrackrEntrackr · 10m ago
D2C startup Blissclub secures fresh funds at flat valuation
Medial

Women’s activewear D2C brand BlissClub has raised Rs 45 crore (around $5.3 million) in a mix of debt and equity funding. The round was led by existing investor Elevation Capital. Women’s activewear D2C brand BlissClub has raised Rs 45 crore (around $5.3 million) in a mix of debt and equity funding. The round was led by existing investor Elevation Capital, with participation from Eight Roads Ventures, and Alteria Capital, which contributed the debt component. The board at Blissclub has allotted 16,076 pre-Series B CCPS at an issue price of Rs 20,528 each and 1,200 non-convertible debentures at an issue price of Rs 1,00,000 each to raise the aforementioned amount, its regulatory filings with Registrar of Companies (RoC) shows. The proceeds will be used to support the company’s business needs, including growth, expansion, and general corporate purposes, the filings added. BlissClub is a homegrown, women-centric wellness brand that specializes in activewear, accessories, and lifestyle products. Recently, the company expanded its portfolio by venturing into the travel wear segment. BlissClub sells its products through its own website as well as major e-commerce platforms like Myntra, Amazon, and AJIO. According to Entrackr’s estimates, Blissclub is valued at Rs 570 crore (around $67 million), the same as during its $15 million Series A round. After allotment of the new round, Elevation Capital is the largest external shareholder in BlissClub, holding a 24.5% stake, followed by Eight Roads Ventures with a 15.79%. According to TheKredible, BlissClub has raised nearly $26 million to date, including the debt component. While BlissClub has yet to disclose its FY25 figures, the company reported a 27% growth in operating revenue to Rs 87 crore in FY24. However, it also incurred a loss of Rs 44 crore during the same period. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here.

BlissClub posts Rs 130 Cr revenue in FY25; cuts losses by 55%

EntrackrEntrackr · 17d ago
BlissClub posts Rs 130 Cr revenue in FY25; cuts losses by 55%
Medial

BlissClub posts Rs 130 Cr revenue in FY25; cuts losses by 55% BlissClub has recorded strong growth in FY25, with its revenue from operations surpassing the Rs 130 crore threshold. The firm has also reduced its losses by more than half during the period after a notable cut in employee costs. BlissClub’s revenue from operations grew 51% to Rs 131.5 crore in FY25 from Rs 87 crore in FY24, according to its financial statements filed with the Registrar of Companies (RoC). The company specializes in women’s activewear, accessories, and lifestyle products, and the sale of these items remained its sole source of operating revenue. BlissClub also recorded Rs 3.5 crore in non-operating income, taking its total income to Rs 135 crore in FY25. On the cost side, the cost of materials remained the largest expense, rising 38% to Rs 62 crore in FY25 from Rs 45 crore in FY24. Other expenses increased 31% to Rs 29.5 crore, while transportation costs more than doubled to Rs 16 crore during the year. In contrast, employee benefit expenses declined 42% to Rs 18 crore in FY25 from Rs 31 crore in FY24, while legal charges stood at Rs 5 crore during the period. Overall, the company’s total expenses increased 14% to Rs 155.5 crore in FY25 from Rs 136 crore in FY24. As revenue growth outpaced the rise in expenses, BlissClub managed to cut its losses by 54.5% to Rs 20 crore in FY25 from Rs 44 crore in FY24. Its ROCE and EBITDA margins stood at -44.57% and -15.09%, respectively. On a unit basis, the company spent Rs 1.18 to earn a rupee during the fiscal year. BlissClub recorded cash and bank balances of Rs 39 crore in FY25, while its current assets stood at Rs 75 crore. BlissClub has raised around $21.6 million in funding to date, with Elevation Capital as its lead investor. The company competes with brands such as Kica Active, SilverTraq, Cultsport, Cava Athleisure, HRX, Spirit Animal, Playfiks, and Decathlon’s Domyos. BlissClub operates in India’s activewear market alongside brands such as HRX, Decathlon Domyos, and Cultsport. While several players compete across categories, BlissClub has focused on women’s activewear and built its presence through D2C channels and product-led positioning. The company has emerged as one of the faster-growing brands in the segment, with revenue rising over 8X from Rs 15 crore in FY22 to Rs 130 crore in FY25, while maintaining control over expenses. With tighter cost control in FY25, the firm could move closer to breakeven in FY26 if it continues to prioritize disciplined growth over aggressive expansion.

Comet raises $5 Mn in Series A round

EntrackrEntrackr · 1y ago
Comet raises $5 Mn in Series A round
Medial

D2C sneaker brand Comet has raised Rs 42.3 crore (approximately $5 million) in its Series A round led by Elevation Capital. This is the first round of investments for the Bengaluru-based company in 2024. The board at Comet has passed a special resolution to issue 10 equity and 50,076 Series A CCPS at an issue price of Rs 8,445 each to raise Rs 42.3 crore or $5 million, its regulatory filing accessed from the Registrar of Companies shows. Elevation Capital led the round with Rs 33.36 crore while existing investors Nexus Ventures and AngelList India participated with Rs 8.34 crore and Rs 60 lakhs respectively. The company will use these proceeds for capital expenditures, marketing, and general corporate purposes as per the business plan, the filing added. According to the startup data intelligence platform TheKredibe, Comet has been valued at around Rs 167 crore or $20 million post-allotment. The startup raised its seed capital in February last year. Following the fresh proceeds, Elevation Capital and Nexus Ventures will hold 20% each while AngelList India will command 2.22% of the capital in the company. Founded in July 2023, Comet is a homegrown, lifestyle sneaker brand for both men and women which sells its products through its website. Its current portfolio includes CometX, Aeon, and Slides. According to Comet, its TAM (total addressable market) is expected to be $22 billion while the company’s serviceable addressable market (SAM) is expected to be $1.5 billion by FY 2030. Comet competes with Wrong, HRX, Redtape, The Roadster, Campus, Sparx and other multinational footwear brands like Nike and Adidas.

Lifestyle brand Terractive raises pre-Series A round

EntrackrEntrackr · 1y ago
Lifestyle brand Terractive raises pre-Series A round
Medial

The Mumbai-based lifestyle activewear brand Terractive has raised Rs 8 crore in a pre-Series A funding round co-led by Fireside Ventures and DeVC (Matrix Partners). The proceeds will be utilized to accelerate fabric development and enhance product innovation, Terractive said in a press release. Co-founded in 2023 by Raena Ambani and Rahee Ambani-Choksi, Terractive empowers activewear by blending innovative fabric technology with unmatched comfort. Signature fabrics like TerraSoft, with its cotton-like feel and anti-odor properties, and CoolKnit, crafted for a cooling effect and premium look, showcase the brand’s commitment to performance and style. With a focus on quality and innovation, Terractive aims to become the go-to choice for premium everyday wear. According to Terractive, its differentiated offerings include bestsellers like the TerraSoft Cuddle Tees, 365 Men’s Shorts, and Activity Skorts. By blending cotton-soft fabrics with anti-microbial and anti-odor properties, the brand caters to modern consumers seeking versatile and premium-quality lifestyle wear. As per market research, the fashion and apparel market in India is projected to reach a revenue of $105.50 billion in 2024 and is expected to grow annually at a rate of 3.35% CAGR through 2029. Terractive aspires to create signature fabric blends centered on comfort during daily movement. For instance, their bestseller Cool Knit Fabric looks and feels like premium cotton with a surprisingly cooling sensation on the inside, all while being anti-microbial, anti-odor, and sweat-patch-free. Meanwhile, the brand claims that its Cuddle Tee range has more than 25,000 customers. It competes with other brands in this space, such as Blissclub, Carbontree, and Cukoo, among others.

D2C luggage brand uppercase raises $9 Mn led by Accel

EntrackrEntrackr · 1y ago
D2C luggage brand uppercase raises $9 Mn led by Accel
Medial

D2C luggage brand Uppercase (Acefour Accessories) has raised $9 million in a Series B round led by venture capital firm Accel. As per uppercase, it has raised the new round at a post money valuation of $60 million. In 2022, the company had raised $7 million in apPre-Series A funding round led by Sixth Sense Ventures, with participation from Volrado Venture Partners. The funding will support business expansion, aiming to increase its customer base across India, uppercase said in a press release. Founded by Sudip Ghose, uppercase sells travel gear online and through 1,800 multi-brand stores across India. Its products are priced in the range of Rs 3,500-5,000. The Mumbai-based company aims to achieve its Rs 500 crore goal by adding 250 exclusive retail stores over the next three years. Earlier this year, luggage brand Mokobara raised $12 million in a Series B funding round led by Peak XV Partners. Besides Mokobara, uppercase also competes with Assembly, Nasher Miles and EUME. While Nasher miles raised $4 million in July, EUME bagged $1.7 million in June. As per startup data intelligence platform TheKredible, uppercase reported an operating revenue of Rs 10.65 crore in FY23 with Rs 21 crore loss. The company is targeting to more than double its revenue to Rs 150 crore by FY25, up from Rs 70 crore in FY24.

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