Spring Capital recently invested in the sportswear and athleisure venture Agilitas Sports led by former PUMA India and South East Asia Managing Director Abhishek Ganguly, a source confirmed, without disclosing the amount of the investment. Spring Capital will collaborate closely with Agilitas to develop brand and launch strategies based on a deep understanding of consumer behavior and culture.
In April of this year, Agilitas Sports acquired the India license for the Italian shoe brand Lotto for 40 years, at an undisclosed price. Under the partnership with Lotto’s parent company, WHP Global, Agilitas, based in Bengaluru, will oversee the manufacturing, design, and sale of Lotto products across India, South Asia, and Australia.
“The investment was made by Spring Capital last week,” said a source familiar with the matter.
Spring Capital has investments in a variety of brand portfolios, including the jewelry brand Giva, the online beauty and grooming platform Purplle, and the organic personal care brand Juicy Chemistry, among others.
In December 2023, Agilitas Sports received Rs 100 crore in funding from Nexus Venture Partners, a venture capital firm that partners with entrepreneurs building product-focused companies in India and the US.
Convergent Finance LLP, an investment management and advisory firm led by Harsha Raghavan, also made a significant investment of over Rs 400 crore in the startup.
Storyboard18 reached out to Abhishek Ganguly, co-founder and CEO of Agilitas Sports, for comment. The story will be updated once an official statement is received from the company.