Through a combination of loan and equity finance, women's sportswear direct-to-consumer firm BlissClub has raised Rs. 45 crore, or roughly $5.3 million. Elevation Capital, an existing investor, led the round. Alteria Capital provided the debt component, and Eight Roads Ventures also participated.
According to Blissclub's regulatory filings with the Registrar of Companies (RoC), the board has allocated 16,076 pre-Series B CCPS at an issue price of Rs. 20,528 each and 1,200 non-convertible debentures at an issue price of Rs. 1,00,000 each in order to raise the aforementioned sum.
According to the documents, the money raised will be utilized for the company's general corporate objectives as well as growth and expansion.
Women-focused health company BlissClub is a domestic business that focuses on sportswear, accessories, and lifestyle goods. The company has entered the travel clothing market, broadening its line of business. In addition to its own website, BlissClub sells its goods on well-known e-commerce sites like AJIO, Amazon, and Myntra.
Similar to its $15 million Series A funding, Blissclub is valued at Rs. 570 crore, or roughly $67 million.
With a 24.5 percent investment in BlissClub following the allocation of the latest round, Elevation Capital is the largest external shareholder, followed by Eight Roads Ventures with a 15.79 percent stake. BlissClub reported a 27 percent increase in operating revenue to Rs. 87 crore in FY24, but the company has not yet released its FY25 results. But at the same time frame, it also lost Rs. 44 crore.
