BlissClub, a homegrown consumer brand crafting functional and incredibly comfortable activelife wear for Indian women, has raised USD 15 Million in its Series A round, led by Eight Roads Ventures and Elevation Capital. The company has seen 25X growth in just 10 months, having gone from raising Seed round in May 2021 to current Series A in less than a year. The company is on track to becoming one of the fastest brands to hit the INR 100 crore ARR milestone in India.
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).
This fundraise, one of the largest ever Series A round by an Indian direct-to-consumer brand, comes less than a year after BlissClub raised $2.25 million in seed funding.
BlissClub was founded in 2020 by Minu Margeret as a community-first brand. Margaret, an ISB alumnus and a national level ultimate frisbee player, has previously worked at brands like PhonePe, ABInBev and HUL, before founding BlissClub.
Minu Margeret, founder & CEO, BlissClub says: “Women’s fitness has been a complete 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. We at BlissClub believe in
celebrating the journey of movement. We are on a mission to build a wellness ecosystem for the women of India and are just getting started. BlissClub has grown 45% MoM with only 10 products, supported by our growing customer base. We build function over design, focusing on innovation and engineering incredible fabrics while solving specific problems of women and building a hero products only portfolio. This reflects in our NPS of 75, extremely low product return rates of 3% compared to the industry average of 35% and best-in-class retention rates. We have been able to build extremely nimble processes, to incorporate customer feedback into continuous improvement loops for our products. Our customer obsession extends to even naming our products and colours after our customers (BlissQueens), such as ‘Naina Navy, Gargi Grape’ and so on.”