Convergent Finance LLP funds invest Rs 400 Cr in sports platform Agilitas Sports
Convergent will work with Agilitas in the areas of operations, capital allocation, and long-term business strategy.
Funds advised by Convergent Finance LLP, an investment management and advisory partnership led by Harsha Raghavan, have invested Rs 400 crore in Agilitas Sports—an innovation-led sportswear and athleisure solutions platform.
It raised a total of Rs 430 crore, with the additional Rs 30 crore secured from individual investors. Convergent will work with Agilitas in the areas of operations, capital allocation, and long-term business strategy.
Agilitas Sport was founded by Abhishek Ganguly, (outgoing Managing Director of PUMA India and Southeast Asia), Atul Bajaj (outgoing Executive Director of Sales and Operations of PUMA India), and Amit Prabhu (outgoing Chief Financial Officer of PUMA India).
“Agilitas Sports aims to disrupt and redefine the sportswear industry by seamlessly integrating innovation and technology across the product value chain from the factory floor to the retail shelf," Abhishek Ganguly, Founder, Agilitas Sports, said.
"With a hyper-focus on customer experience and customer-centricity, we endeavour to build meaningful communities in the Indian sports and sportswear space and be a catalyst towards a fit and athletic India,” he added.
“With the amazing new opportunities in India’s sportswear market, given our nation’s focus on fitness, as well as ‘Made in India’, we believe that Agilitas represents the next step in the evolution of India’s consumer story,” stated Harsha Raghavan, Managing Partner at Convergent Finance LLP.
Edited by Suman Singh