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Mahindra-backed Rocksport raises funds at $30 Mn valuation

Entrackr · 7m

Rocksport, a provider of in-school adventure programs, has secured a new round of investment from Brand Capital, the strategic investment arm of The Times of India. With this latest funding, Rocksport has raised nearly $3 million, to close its Series A round, elevating its valuation to $30 million. The funds will primarily finance advertising and brand-building initiatives aimed at introducing customers to Rocksport and its distinctive offerings, the company said in a press release. Moreover, Brand Capital will provide a leverage of The Times of India’s brand building and marketing strengths for Rocksport. Previously, Mahindra Holidays & Resorts had picked up a strategic stake in Rocksport to expand its pan India footprint beyond metro cities. It has expanded its offerings to curate programs for families and companies since then. Currently, more than 1,000 premier schools run Rocksport’s soft adventure programs. The firm aims to dominate the adventure-based experiences market for schools, families, and corporations during trips and weekends. Rocksport imports and distributes 8 global adventure and outdoor brands in India. The marquee brands include the likes of Coleman, CampinGaz, Contiigo, Edelrid and Lifestraw.