Community commerce brand BlissClub has raised$15 million in its Series A funding round from Eight Roads Ventures and Elevation Capital.
Many investors including Sriharsha Majety (CEO of Swiggy), Ghazal Alagh (cofounder of Mamaearth), Vivek Gupta and Abhay Hanjura ( Cofounders of Licious), Amar Nagaram ( former CEO of Myntra), Sumer Juneja ( SoftBank executives), Brennan Loh ( Shopify executive), and Masoom Minawala (global fashion influencer).
The startup plans to double the size of its team by using the funds in R&D and product development, hiring different tasks and developing its own apps and offline channels.
It is also looking to build an app. Its team has expanded into WhatsApp, Instagram, and Facebook groups to reach massive users, now they think an app is the best way forward.
The Bangalore-based BlissClub was founded in 2020 by national-level frisbee player Minu Margeret.
It designs activewear specifically for Indian women. It was launched along with The Ultimate Leggings, which aims to address issues in women’s activewear, particularly in terms of fabric, fit and function.
“The last 10 months has been an incredible journey for BlissClub. We have had a strong validation for our product, and there is a problem that is big and large enough to be addressed”, said, Minu Margeret, Founder and CEO, BlissClub.
“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 focussed towards men, leaving very limited options designed specifically for the 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”, she added.
“Activewear has become one of the fastest growing apparel categories globally, including India, driven by an increasing interest in fitness and shift towards comfortable clothing. BlissClub has received unparalleled customer love and it’s not surprising that they are one of the fastest growing D2C brands in India today. We are excited to partner with Minu and the BlissClub team, supporting them on their to mission to bring high-quality, comfortable and performance-driven products tailor made for Indian #WomenWhoMove”, said, Shweta Bhatia, Partner and Head of Technology Investments India, Eight Roads Ventures.
Chirag Chadha, Vice President, Elevation Capital, Said “BlissClub has grown 25X since our seed investment, while maintaining industry leading NPS scores and repeat metrics. They have been able to scale fast while maintaining some very healthy business metrics on the back of building innovative growth channels and their product obsession. The level of customer love BlissClub enjoys is unparalleled and we have not seen this in many other brands. This is an outcome of a massive unmet need in the market, and Minu and team’s razor sharp focus on execution and brand building. We are super excited to double-down on our commitment to the company.”
BlissClub is on track to become one of the fastest brands to achieve the ARR (Annual Recurring Revenue) milestone of Rs 100 crore in India. In May 2021, BlissClub had raised $2.25 million in seed funding round from Elevation Capital.
BlissClub is a community-first women’s activewear brand. It is a direct-to-consumer brand in the active lifestyle space, founded in 2020 by ISB Alum Minu Margeret.
They at BlissClub aim to craft insanely comfortable activewear specially made for the Indian woman. They are obsessive about their products and want to make products that are 10X better than what is available in the market currently. They also want to build their brand community first, after all BlissClub was a community before they launched with the product.