BlissClub Raises Rs 33 Cr In Funding Led by Elevation Capital

Women-focused direct-to-consumer (D2C) activewear brand BlissClub has raised Rs 33 Cr as part of its Pre-Series B funding round led by Elevation Capital, along with participation from Eight Roads ventures.

According to filings with the Registrar of Companies, Blissclub raised funds by issuing 16,076 preference shares on April 29 at Rs 20,428 each.

Elevation invested Rs 19 Cr for 9,256 shares, while Eight Roads Ventures put in Rs 14 Cr for 6,820 shares. After this, Elevation now owns 24.5% of Blissclub and Eight Roads holds 15.79%.

The funds will be used for working capital, capital expenses and other general business needs.

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In 2022, BlissClub raised $15 million in a funding round co-led by Eight Roads Ventures and Elevation Capital.

The fundraise comes just three months after the startup laid off about 21 employees (18% of its team) in mid-January. The cuts affected several departments, including creative, sales, marketing, growth, and product.

At the time, reports said the layoffs happened because the company was struggling to raise new funds while spending heavily.

About BlissClub 

Founded in 2020 by Minu Margeret, the Bengaluru-based BlissClub started as a digital-first brand before moving into physical retail, competing with fast fashion brands. Its products are sold through its website and other e-commerce platforms.

The company reported a revenue of Rs 92 crore for the year ending March 31, 2024, though its financials for FY25 haven't been filed yet.

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