Community commerce brand BlissClub raises $15M in a Series A round

Bengaluru-based community commerce brand Blissclub has raised $15 million in a Series A funding round led by Eight Roads Ventures and Elevation Capital. Eight Roads Ventures recently announced the launch of dedicated India-focused healthcare and lifescience fund of $250 million.

The funding round also saw participation from notable individual investors including, Swiggy’s CEO Sriharsha Majety; Mamaearth co-founder Ghazal Alagh; Licious co-founders Vivek Gupta and Abhay Hanjura; former Myntra CEO Amar Nagaram; SoftBank executives including Sumer Juneja; Shopify executive Brennan Loh, and global fashion influencer Masoom Minawala.

The funding announcement comes a year after it raised $2.3 million in a Seed round from Good Capital, Elevation Capital, and several other individual investors.

Founded in 2020 by ISB Alum Minu Margeret, BlissClub is a homegrown brand that designs activewear specifically for Indian women. Since its inception, The brand has seen 25x growth in its sales. According to Minu Margeret, Blissclub's own platform account for 90% of its sales while the rest comes from Amazon and Myntra.

With this round of funding, Blissclub will invest in research and development (R&D, product development, double its team size by hiring across functions, and channel development across its own app and offline.

Minu further said that the brand is on track to becoming one of the fastest brands to hit the Rs 100 crore ARR (Annual Recurring Revenue) milestone in the country. To increase its reach, it has also expanded across WhatsApp, Instagram, and Facebook groups.

Speaking on the investment, Shweta Bhatia, Partner & Head of technology investments India, Eight Roads Ventures, said: “Activewear has become one of the fastest-growing apparel categories globally, including in 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 aim to build a whole ecosystem for women where we bring teachers, trainers, and women who want to meet one-on-one. Personally, I moved to a new community, my husband is part of multiple WhatsApp groups for tennis, squash etc, and these are primarily male run ones. I believe there is larger problem, how can we build a community where half a billion women can be impacted?" says Minu Margeret.

"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," said Chirag Chadha, Vice President, Elevation Capital.

Also Read:

• HappyLocate raises $1.1M in a pre-Series A round led by IPV

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