Virat Kohli-backed Agilitas in talks to acquire Yuvraj Singh

Virat Kohli-backed Agilitas in talks to acquire Yuvraj Singh-backed Sports365

Agilitas, the sporting goods manufacturing startup, is in the advanced stages of acquiring Sports365, a company that helps in retailing of sports accessories and equipment as the former gears up to take its products to a wider set of customers, people familiar with the developments told Moneycontrol.

When Sports365 was founded in 2012 by Sekhar Garisa and Vishal Gupta, it was among India's earliest e-commerce platforms focused on sporting goods. The venture was also being set up in its early years by Indian tennis star Mahesh Bhupathi, before attracting other high-profile names including cricketer Yuvraj Singh, actor Lara Dutta and international squash player Dipika Pallikal, who became associated with the company as it expanded.

After recording revenue of around Rs 7 crore in its first full year of operations in FY14, Sports365 steadily expanded to a peak of Rs 46 crore in FY21. The business, however, lost momentum following the pandemic. By FY25, its latest available financial year, revenue had fallen to about Rs 2 crore, according to Tracxn.

While the financial terms were not known, people familiar with the matter said the acquisition values Sports365 at less than its peak annual revenue of Rs 46 crore.

Sports365 had raised less than Rs 15 crore from Powerhouse Ventures and a clutch of other investors. It was also backed by YouWeCan, a non-profit run by cricketer Yuvraj Singh.

Agilitas and Sports365 did not reply to Moneycontrol’s queries.

For Agilitas, Sports365 will be the latest acquisition after it bought Mochiko shoes, the long-term licensing rights to Loto and restarted One8, cricketer Virat Kohli’s sporting brand.

Abhishek Ganguly, who was earlier Puma India and Southeast Asia MD, co-founded Agilitas along with Atul Bajaj, former executive director–sales and operations, Puma India, Amit Prabhu, former chief financial officer, Puma India.

Since then, it has raised over $90 million (more than Rs 850 crore) from a bunch of investors including Virat Kohli, actress Anushka Sharma, Rainmatter, Yuvraj Singh, Convergent and others. Moneycontrol was first to report that Agilitas is in the final stages of raising Rs 450 crore from Nexus Venture Partners. Around half the round has already been secured, with the balance expected to close over the next few months.

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