Startup Agilitas Sports, Run By Puma India Officials, Raises $52 Million

Leaders in the sports industry, Abhishek Ganguly and co-founders Atul Bajaj and Amit Prabhu, have revealed Agilitas Sports as their new firm.

Additionally, the trio was able to raise $50 million under the direction of Convergent Finance LLP. Agilitas Sports has received investments totaling Rs. 400 crore from the Harsha Raghavan-led investment management and advisory partnership and Rs. 30 crore from private investors. One of India’s largest initial startup fundraising rounds is taking place right now.

According to a news release from the company, Agilitas Sports intends to be an innovation-driven platform for sportswear and athleisure solutions that invests in the foundation of the Indian sports ecosystem. In the areas of operations, capital allocation, and long-term company strategy, Convergent will collaborate with Agilitas.

Ganguly, the departing managing director of PUMA India and Southeast Asia; Atul Bajaj, the departing executive director of sales and operations of PUMA India; and Amit Prabhu, the departing chief financial officer of PUMA India, make up the founding team of Agilitas Sports. Puma India saw a five-fold increase in sales under Ganguly’s ten-year term as MD, from Rs 600 crore in 2014 to about Rs 3,000 crore in 2022.

By seamlessly integrating innovation and technology across the product value chain, from the factory floor to the retail shelf, Agilitas Sports seeks to disrupt and reshape the sportswear business. We strive to create significant communities in the Indian sports and sportswear market and act as a catalyst for a fit and athletic India with a laser-like focus on customer experience and customer-centricity, said Ganguly.

Sports footwear is currently the fastest-growing market segment, making up about 16% of the entire footwear market. Its market share is moving towards the averages for emerging and mature markets globally, which are over 30% and over 50%, respectively. Agilitas will seek out partnerships and investments in all facets of the sports ecosystem, including production, retail, and technology.