New Delhi, June 3 -- Agilitas Sports, a sportswear and athleisure solutions platform that was co-founded by Puma India and South-East Asia's former managing director Abhishek Ganguly, has raised Rs 225 crore ($23.5 million) from existing investor and venture capital firm Nexus Venture Partners and new investor Rainmatter by Zerodha.
Nexus, which previously invested Rs 100 crore in Agilitas Sports in December 2023, has doubled down on the company with an investment of Rs 200 crore. Rainmatter, a venture capital initiative and incubator launched by Zerodha, invested the remaining sum, the sportswear company said.
Prior to this, the company raised Rs 400 crore in May 2023 from private equity firm Convergent Finance and Rs 30 crore from individual investors. It is also backed by cricket players, including Virat Kohli and Yuvraj Singh.
"At Agilitas, we have always believed India can contribute far more to global sportswear than being just a large consumer market. We can build world-class products. We can build global brands. We can build meaningful retail experiences. And we can do it from India," said Ganguly, co-founder and chief executive officer of Agilitas Sports.
Founded in 2023 by Ganguly and other ex-Puma executives, Agilitas Sports specialises in sportswear and athleisure and operates across various domains, including manufacturing, product development, and retail.
In September 2023, it acquired sports footwear manufacturer Mochiko Shoes, which produces footwear for global brands such as Adidas, Puma, Skechers, Asics, Reebok and New Balance. The acquisition gave Agilitas access to large-scale domestic manufacturing capacity and strengthened its supply chain capabilities.
In 2024, the company acquired exclusive rights to design, manufacture, and distribute products of popular Italian sports brand Lotto across India and Australia from New York investment firm WHP Global.
Published by HT Digital Content Services with permission from VC Circle.