BlissClub is a Bengaluru-based women’s activewear brand that sells functional apparel designed for Indian bodies and all-day movement. The latest BlissClub funding talks have reached advanced stages, with Singularity’s private equity arm expected to back a ₹200-250 crore round that could value the company at about ₹750 crore. Existing investors such as Elevation Capital and Eight Roads Ventures are also set to participate. The timing is hard to ignore: BlissClub has crossed roughly ₹250 crore in annualised revenue run rate after closing FY25 at ₹135 crore in revenue with a ₹20 crore loss. That’s a clear improvement from ₹92 crore revenue and ₹44 crore in losses in FY24. Founded in 2020 by Minu Margeret, the company is chasing a real consumer problem—women often still have to choose between fit, comfort, and performance when buying activewear in India.
What is BlissClub and how does it work?
At the product level, BlissClub is pretty straightforward. It sells activewear and adjacent everyday apparel through its own digital storefront and physical stores. Shoppers can browse by occasion, category, or fabric. On the site, that means activewear and citywear. It also includes travel wear, swimwear, sports bras, jackets, innerwear, bottoms, and tops—basically a wider wardrobe than the “leggings brand” label suggests.
Its best-known products still do a lot of the brand storytelling. The Ultimate Leggings, for example, are built with BlissClub’s CloudSoft fabric and come with 4 pockets—2 side pockets and 2 invisible pockets—plus flatlock seams. That sounds like a small design choice. It isn’t. For a lot of shoppers, that’s the difference between workout clothing and something you’ll actually wear through the day.
BlissClub has also spent real effort on fabric-led product development. Its assortment now includes proprietary fabric families such as CloudSoft, AirMelt, BareButter, RibSupreme, and AeroCool. The company frames BlissLabs as the R&D engine behind those materials. In plain English: it’s trying to own feel and stretch. Breathability and comfort are part of that too, instead of just owning an Instagram aesthetic.
The customer experience changes in a simple way. Instead of buying generic gymwear and then living with bad fits, shallow pockets, or weather-unfriendly fabric, shoppers are pushed toward use-case-specific options. That includes training tops, flare pants, travel layers, humid-weather apparel, and size-inclusive fits from XS to 4XL. BlissClub’s products were priced between ₹799 and ₹2,999 in July 2025. That puts the brand in the “premium but still reachable” bucket rather than luxury.
Who founded BlissClub and how has it grown?
The founding story
Minu Margeret started BlissClub in 2020 after a long stretch of personal frustration with women’s activewear. She was a regular gym-goer and a club-level Ultimate Frisbee player, and she’s spoken about how hard it was to find apparel in India that was technical enough for movement without feeling restrictive or badly fitted. She quit her role at PhonePe in December 2019, spent about 10 months in R&D talking to women and factories, and launched online during the Covid period with one hero product: black leggings.
That first bet worked fast. Mint reported that the early leggings launch sold out in 3 weeks, which matters because it showed product pull before BlissClub had the scale or store network it has now. The company was bootstrapped initially with ₹15 lakh and started with a team of around 4-5 people.
Why Minu had founder-market fit
Margeret didn’t come from fashion school. That may have helped. She studied B.Com at Christ College, became a management accountant, worked at Goldman Sachs and Wipro, then did her MBA at the Indian School of Business in 2016 before spending time at Unilever, AB InBev, and PhonePe. That mix gave her finance discipline and consumer-brand exposure. It also gave her operator instincts before she ever learned apparel jargon.
So her edge wasn’t “I’ve been in apparel forever.” It was closer to: I know the consumer pain, I understand brands, and I can build process around product. That’s a credible setup for a D2C activewear company, especially one trying to build its own fabric identity instead of reselling commodity basics.
Traction, fundraising, and competition
The company is no longer tiny. By July 2025, BlissClub had more than 80 employees and 15 brick-and-mortar stores after starting as an internet-first brand. It has reached roughly ₹250 crore in annualised revenue run rate, with FY25 revenue at ₹135 crore and losses down to ₹20 crore. That’s still loss-making, yes. But the direction is much better than FY24.
Funding history tells the same story. BlissClub raised $15 million in Series A in May 2022 from Eight Roads Ventures and Elevation Capital, after an earlier seed round. Then it raised ₹33 crore in May 2025 with Elevation and Eight Roads again. The current round with Singularity would be its biggest since 2022 and would deepen support from investors that have already backed the company through multiple stages.
Competition is real here. The source report names Cult.fit, Boldfit, and Cava, and BlissClub also runs into pressure from broader sportswear and fast-fashion buying habits. Its clearest point of difference is focus: women-first product design and size-inclusive fits. Fabric R&D and details like deep pockets and climate-aware construction add to that. That’s narrower than a mass-market athleisure play, but it’s also what investors seem to be backing.
One detail from the fundraise chatter says a lot about the moment. Indian Startup News earlier reported that “over the past weeks, founder and CEO Minu has been meeting with potential investors in Bangalore,” which suggests this round wasn’t a passive inbound process. It looks like a deliberate push to raise a much larger cheque once growth and losses started moving in the right direction.
Why does this BlissClub funding round matter?
Because this isn’t just growth capital for more inventory. The reported use of funds is offline expansion, and that’s a major next step for any D2C apparel brand that wants to become a habit rather than a one-time online purchase. Stores let customers touch fabric and test fit. They can also buy across categories in one visit, which matters for a brand selling comfort and movement, not just a logo.
It also matters because the round lands after a cleaner operating year. Plenty of consumer brands can manufacture top-line momentum by spending hard. What gets investor attention now is better revenue with less damage. BlissClub’s move from ₹44 crore in FY24 losses to ₹20 crore in FY25 losses gives the company a much better story to tell than “we’re growing, trust us.”
There’s a brand ambition hidden inside this. BlissClub started with one hero product. The money appears aimed at turning that into a broader retail engine—more stores and more categories. It also gives the brand more chances to become an everyday wardrobe label instead of a leggings-led niche name. The risk is obvious too: offline retail can scale revenue fast, but it can also bring fixed costs back with a vengeance if store productivity slips.
Why are investors betting on India’s activewear market now?
The market tailwind is real. IMARC pegs India’s athleisure market at $13.88 billion in 2025 and expects it to reach $22.37 billion by 2034, with a 5.28% CAGR. Its India activewear estimate is also sizeable—$10.72 billion in 2025, rising to $17.41 billion by 2034. Those are big enough numbers to make room for specialist brands, not just giant multi-category players.
Consumer behavior is shifting in ways that favor brands like this. Fitness culture is wider now, and casual dressing has become normal outside the gym. Fabric innovation is finally part of the buying conversation instead of a back-end detail. IMARC also notes that offline stores held 59% of India’s activewear distribution in 2025. That helps explain why BlissClub wants more physical retail rather than staying purely online.
There’s another tailwind. Indian shoppers increasingly want apparel that crosses use cases—workout, travel, errands, maybe even office-adjacent wear. That’s where the line between activewear and everyday clothing starts to blur. It’s also where brands with strong fit and fabric discipline can build loyalty. Not every D2C brand can pull that off. But that’s the bet.
What to watch after the BlissClub funding round
The BlissClub funding story is really a test of conversion—from a product-loved internet brand into a scaled retail business that still feels product-obsessed. If the Singularity round closes on the reported terms, the next thing to watch won’t be the headline amount. It’ll be store rollout speed and repeat demand beyond hero items. It’ll also be whether BlissClub can keep tightening losses while it grows.
Read how Kisah raised ₹35.9 Cr in a Series A led by Fireside Ventures to scale its modern ethnic wear business, expanding from a digital-first brand into an omnichannel retail player targeting Gen Z and millennial shoppers with affordable, occasion-led Indian outfits across men’s and kids’ categories.
FAQ
– What is the latest BlissClub funding round?
BlissClub is in advanced talks to raise ₹200-250 crore from Singularity’s private equity arm at a reported valuation of around ₹750 crore. Existing backers including Elevation Capital and Eight Roads Ventures are also expected to join the round, which would make this the company’s biggest fundraise since 2022.
– How does BlissClub work as a women’s activewear brand?
BlissClub sells women’s functional apparel through its own online storefront and physical stores. Shoppers can browse by category, occasion, or fabric. Its range includes leggings, flare pants, sports bras, training tops, travel wear, and other basics, with signature materials such as CloudSoft and AirMelt and sizes going up to 4XL.
– Who founded BlissClub and why did she start it?
BlissClub was founded in 2020 by Minu Margeret. She started it after struggling to find performance-focused activewear that actually fit Indian women well, and she brought a mix of finance, consumer-brand, and operating experience from Goldman Sachs, Wipro, Unilever, AB InBev, and PhonePe before building the brand.
– Why is India’s activewear market attracting investors?
Because it’s already large and still expanding. IMARC estimates India’s activewear market was worth $10.72 billion in 2025 and could reach $17.41 billion by 2034, while athleisure was valued at $13.88 billion in 2025, driven by fitness adoption, casual dressing, fabric innovation, and a still-important offline retail channel.
