Community first women's activewear brand BlissClub raised $2.25 million in seed funding led by Elevation Capital. Proceeds of the fresh funds will be utilised towards strengthening and growing the team, product development, and marketing.
Angel investors who participated in this funding round include Neeraj Arora (ex CBO, WhatsApp), Kunal Shah (Founder, CRED), Rahul Mehta (Managing Partner, DST), Pam Lee (Ex-Lululemon Executive), Ashish Goel (Founder, Urban Ladder), Chakradhar Gade (Founder, Country Delight), and Good Capital.
Founded in 2020 by Minu Margeret, a national-level ultimate Frisbee player, BlissClub set out to design activewear specifically for Indian women. Their mission is to 'spread happiness through movement' because their belief is that fitness encapsulates how people (women) feel both physically and mentally and is not simply about losing weight or sculpting perfect-looking bodies.
BlissClub launched with a hero product, The Ultimate Leggings (TUL), aimed at resolving the current issues in women's activewear, especially in terms of fabric, fit, and function. TUL as a product, with its signature CloudSoft fabric, tailor-made sizing (for Indian women), and functionality (it has four pockets), has received tremendous customer appreciation. The company has also built a strong "women only" community, which encourages women to come together, celebrate and share their journey of movement and healthy living.
In less than a year, the brand has achieved incredible growth in revenue while being EBITDA positive and has built a strong community of over 15,000 women across Instagram and WhatsApp.
Minu Margeret, Founder, BlissClub, said "I always struggled to find good quality activewear in India, uncomfortable plastic-like material, poor sizing, and impractical designs. Ankle-length leggings were always churidar bottoms for me, sized to the height of western women. Most activewear brands in the country are largely focused on men, leaving very limited options designed specifically for Indian women. From low-quality material to poor sizing and inappropriate designs, we [Indian women] had to make do with whatever we could find. Not anymore. At BlissClub, our aim is to craft insanely comfortable activewear specially made for the Indian woman. We are obsessive about our products and want to make products that are 10X better than what is available in the market currently. BlissClub was a community before we launched the product. Through our community, we want to enable women to come together and move and live an active life. Apart from conducting various events and fitness challenges, BlissClub is a safe space for women to share, motivate and discuss their fitness journey with each other."
"India is the world's fastest growing activewear market with the women's segment contributing to a majority of the growth. While there has been an increasing awareness about health and fitness among women in the recent past, the current pandemic has accelerated the growth in the women's fitness space. The new round of funding will be utilised in building our team and strengthening our product and marketing strategy to cater to the growing needs of activewear for women," she added.