New Delhi, May 18 (PTI) Women activewear maker BlissClub has raised USD 18 million (about Rs 140 crore) in a mix of equity and debt funding round led by Eight Roads Ventures.

The company raised USD 15 million in equity funding from various investors, including Elevation Capital, Swiggy CEO Sriharsha Majety, Mamearth co-founder Ghazal Alagh, Licious co-founders Vivek Gupta and Abhay Hanjura, former Myntra CEO Amar Nagaram, Softbank executives Munish Varma and Sumer Juneja.

Also Read | Apple To Reportedly Unveil 3 Smartwatches Along With iPhone 14 Series on September 13, 2022.

Further, it has raised USD 3 million debt funding from Stride Ventures in the series A round.

BlissClub plans to use the funds to invest in research and development and product development, double its team size by hiring across functions and channel development across its own app and offline, the company said in a statement.

Also Read | Vivo T2 To Be Launched on May 23, 2022; Check Expected Features & Specifications Here.

"BlissClub has grown 45 per cent month-on-month with only 10 products, supported by our growing customer base. We are looking to set up in-house research and development that work on new products, technical aspects in terms of fabric, fit etc," BlissClub founder and CEO Minu Margeret said.

The company will invest in doubling its current team size of 70 in the next six to eight months, she added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)