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Agilitas Sports raises ₹100 crore from Nexus Venture Partners

Agilitas Sports Raises 100 Crore from Nexus

Agilitas, a Sportswear Startup, has been able to get INR 100 Crore Funding from Nexus Venture Partners.

Agilitas is co-founded by ex-Puma India MD Abhishek Ganguly. Other co-founders of Agilitas Sports include former senior executives of Puma India-- Atul Bajaj and Amit Prabhu.

The company had earlier this year raised about ₹430 crore. This includes ₹400 crore from Convergent Finance LLP, an investment management and advisory partnership led by Harsha Raghavan, while ₹30 crore was raised by individual investors.

Agilitas plans to utilize the freshly acquired funds to fuel its expansion efforts across key areas such as product development, marketing, and scaling up its distribution network.

Agilitas also recently announced the acquisition of B2B footwear manufacturing firm Mochiko Shoes, a sports footwear manufacturer for brands like Adidas, New Balance and Reebok for an undisclosed amount. "Our initial acquisition, Mochiko Shoes, was very integral to our overall business model. It's on track to generate nearly Rs 800 crore in revenue this year, and the growth is impressive. We're optimistic about the year ahead for our company," said Ganguly.

“In terms of the B2C play, we will soon be finalising long-term licensing deals with global brands looking to foray into India. At the same time, we are also in conversations for acquisitions of brands in the sportswear segment. Our strategy is clear that as the overall pie of the sportswear segment grows, we will have multiple brands with definitive differentiated positioning at different price points. The purpose is to strengthen the sports culture in the country and not just cater to professionals but also equip local athletes at the grassroot levels,” he added.

The new funds are earmarked for boosting manufacturing capabilities and for launching new sportswear brands, either through acquisitions or partnerships with global and local brands.


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