From analysis to manufacturing after which retail, Agilitas is a full stack options firm for sporting gear

Sporting gear startup Agilitas Sports, based by former Puma executives, mentioned on December 13 it raised Rs 100 crore from Nexus Venture Partners.

The contemporary capital infusion come months after Agilitas raised Rs 430 crore in its maiden funding round from Convergent Finance LLP, an funding administration and advisory partnership led by Harsha Raghavan.

Agilitas, led by former Puma India and Southeast Asia MD Abhishek Ganguly, mentioned its fundraise, among the many largest for startups within the early stage, was wanted to bolster its manufacturing capabilities.

From analysis to manufacturing after which retail, Agilitas is a full stack options firm for sporting gear.

“Nexus Venture Partners has a agency perception in our mission to construct the biggest sports activities firm from India poised for world impression. We wish to contribute in direction of the rising sports activities tradition within the nation by constructing strong manufacturing capabilities fuelled by sturdy R&D centres, product design labs and types that resonate with shoppers,” Ganguly mentioned.

India’s footwear market is value Rs 11,000 crore and is projected to develop at a CAGR of 13 p.c until 2030. Sports footwear accounts for 16 p.c of the footwear market and is the fastest-growing phase, the corporate mentioned.

That maybe explains why Agilitas acquired Mochiko Shoes Pvt Ltd in an all-cash deal, its first-ever transaction since inception. Mochiko Shoes registered a income of Rs 642 crore in FY23 and is a contract-manufacturing associate to main worldwide manufacturers, corresponding to Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks and US Polo.

“India is one of the fastest growing economies in the world where more Indians are moving towards an active and health-conscious lifestyle. Therefore, we are aligned with the vision of the company of Agilitas for Propelling a Generation through Sports,” Suvir Sujan, Nexus Venture Partners, mentioned.

Atul Bajaj, former govt director–gross sales and operations, Puma India, Amit Prabhu, former chief monetary officer, Puma India, are Ganguly’s co-founders.