Minu Margeret, founder and CEO of BlissClub
Minu Margeret founded BlissClub in 2020, building a community-first women’s activewear brand designed for Indian women and scaling it toward national expansion.
Written by TFN Research Desk | covering startups, technology, venture capital, and business strategy.
Table of Contents
- Who is Minu Margeret?
- Early Life and Education
- Career Before BlissClub
- How BlissClub Started
- Funding History
- Revenue Growth and Recent Developments
- Public Recognition
- BlissClub vs Competitors
- Investor Perspective
- Founder Timeline
- Key Takeaways
- FAQs
- Sources
Who is Minu Margeret?
Minu Margeret is the founder and CEO of BlissClub, the Bengaluru-based activewear brand she built specifically for Indian women’s bodies after years of struggling to find workout clothing that actually fit her own. A national-level Ultimate Frisbee player standing 5’2″, she turned that personal frustration into a company that built its community online months before it ever sold a single product.
Early Life and Education
Margeret earned an MBA from the Indian School of Business in Hyderabad. Fitness had been part of her life from an early age through competitive Ultimate Frisbee, an experience that repeatedly exposed her to the gaps in activewear designed for petite, Indian body types, a frustration that would eventually shape her company’s entire design philosophy.
Career Before BlissClub
After her MBA, Margeret built a corporate career across a notably wide range of industries, working at Goldman Sachs, Wipro Technologies, Unilever, Anheuser-Busch InBev, and PhonePe. That breadth, spanning finance, consulting, consumer goods, and fintech, gave her a rare combination of operating skills before she applied them to building a direct-to-consumer apparel brand from scratch.
How BlissClub Started
Margeret founded BlissClub in March 2020, in Bengaluru, during the pandemic lockdown. Rather than launching a product immediately, she spent months building an online community of Indian women through Instagram and WhatsApp, running yoga sessions, 21-day fitness challenges, and open conversations about what activewear women actually needed before designing anything. That community-first sequencing became BlissClub’s defining proof point: the brand’s flagship product, The Ultimate Leggings (TUL), launched into an audience that had already helped shape it, rather than into a cold market.
Funding History
| Round | Year | Amount | Lead Investor(s) |
| Seed | 2020-21 | Not publicly disclosed | Elevation Capital, angel investors |
| Series A | 2022-23 | $18 million (~₹140 crore) | Eight Roads Ventures, Elevation Capital |
| Series A-II | May 2025 | $3.94 million | Elevation Capital, Eight Roads Ventures |
| Series B | Aug 7, 2026 | ₹160 crore ($16.8 million) | Singularity AMC |
BlissClub has raised a total of $25.57 million across its lifetime, according to CB Insights. Its August 2026 Series B round notably included a significant personal capital commitment from Margeret and her partner, Meesho co-founder and CEO Vidit Aatrey, alongside existing backers Elevation Capital and Eight Roads Ventures, both of whom doubled their positions in the round.
Revenue Growth and Recent Developments
| Fiscal Year | Revenue | Net Loss |
| FY24 | ₹87 crore | ₹44 crore |
| FY25 | ₹131.5-135 crore | ₹20 crore |
BlissClub’s revenue grew 51 percent year-on-year in FY25 while losses fell 54.5 percent over the same period, a combination that gave the company a credibility signal few Indian D2C apparel brands can claim: growing revenue alongside sharply narrowing losses. Revenue has grown more than 60 percent year-on-year consistently over the past two years, according to Business Standard. The company has expanded its retail footprint to more than 40 physical stores, and the August 2026 funding round is earmarked for further product innovation and offline expansion across India.
Public Recognition
Margeret has been featured across Indian business and startup media for building one of the country’s fastest-growing women’s activewear brands, and for her approach to fundraising in an investment ecosystem she has described as historically male-dominated. Her Series A investor group notably included high-profile individual backers such as Swiggy CEO Sriharsha Majety, Mamaearth co-founder Ghazal Alagh, and former Myntra CEO Amar Nagaram.
BlissClub vs Competitors
| Brand | Founded | Positioning |
| BlissClub | 2020 | Community-first, India-specific women’s activewear |
| Go Colors | 2010 | Women’s bottomwear and leggings, listed on Indian exchanges |
| Turaag Active | Not disclosed | Activewear for golf, yoga, and active lifestyle, Bangladesh-based |
BlissClub differentiated itself early through a community-built product development process tailored specifically to Indian women’s body types, a positioning distinct from larger, more general bottomwear players like the publicly listed Go Colors.
Investor Perspective
Margeret’s decade of experience across finance, consumer goods, and fintech gave her the operating discipline to build a capital-efficient D2C brand, reflected in BlissClub’s narrowing losses alongside accelerating revenue growth. Her core strength lies in the community-first approach that preceded her first product launch, which built genuine customer loyalty rather than relying purely on paid acquisition. The primary risk facing a category-specific apparel brand like BlissClub is intensifying competition from both larger listed players and international activewear brands entering India, though the company’s five years of product R&D and its recent shift toward profitability position it well for its next phase of offline expansion. The Series B’s personal investment from both Margeret and Aatrey signals unusually strong founder conviction heading into that expansion.
Founder Timeline
- Education — Completes MBA at the Indian School of Business, Hyderabad
- Early career — Works at Goldman Sachs, Wipro, Unilever, Anheuser-Busch InBev, and PhonePe
- Mar 2020 — Founds BlissClub in Bengaluru during the pandemic lockdown
- 2020 — Builds online community through Instagram and WhatsApp before any product launch
- Later 2020-21 — Launches flagship product, The Ultimate Leggings (TUL)
- 2022-23 — Raises $18 million Series A led by Eight Roads Ventures and Elevation Capital
- FY24 — Reports ₹87 crore revenue
- FY25 — Revenue grows 51% to ₹131.5-135 crore; losses narrow 54.5%
- May 2025 — Raises additional $3.94 million in Series A-II
- Aug 2026 — Closes ₹160 crore Series B led by Singularity AMC
Key Takeaways
- Building an engaged community before launching a single product validated real demand ahead of BlissClub’s first sale.
- A broad, cross-industry corporate career, spanning finance, FMCG, and fintech, gave the founder operating range that a single-track career might not have.
- Narrowing losses alongside accelerating revenue growth is a rare combination among Indian D2C apparel brands, and became a key credibility signal for later funding rounds.
- A founder’s personal capital investment alongside institutional investors in a later funding round can signal unusually strong conviction in a company’s next phase.
FAQs
Who founded BlissClub?
Minu Margeret, in March 2020, in Bengaluru.
How much funding has BlissClub raised?
$25.57 million in total, according to CB Insights, including a ₹160 crore Series B in August 2026.
Is BlissClub profitable?
Not yet, though losses narrowed 54.5 percent in FY25 as revenue grew 51 percent.
What is The Ultimate Leggings (TUL)?
BlissClub’s flagship product, launched after months of community-building around what Indian women needed from activewear.
Where did Minu Margeret study?
She earned an MBA from the Indian School of Business, Hyderabad.
What did she do before BlissClub?
She worked at Goldman Sachs, Wipro, Unilever, Anheuser-Busch InBev, and PhonePe.
Who are BlissClub’s investors?
Elevation Capital, Eight Roads Ventures, and Singularity AMC, among individual backers like Sriharsha Majety and Ghazal Alagh.
What makes BlissClub different?
Its community-first approach to product development, built specifically around Indian women’s body types.
Sources
- Tech Times — BlissClub Closes $16.8M Series B: https://www.techtimes.com/articles/323503/20260807/blissclub-closes-168m-series-b-scale-india-womens-athleisure-stores.htm
- Business Standard — BlissClub raises ₹160 cr to expand retail footprint: https://www.business-standard.com/companies/news/blissclub-raises-160-cr-to-expand-retail-footprint-and-product-portfolio-126080602187_1.html
- LAFFAZ — She Built the Community Before She Built the Leggings: https://laffaz.com/minu-margeret-blissclub-founder-community-first-brand/
- The Established — BlissClub’s Minu Margeret is building a community of women: https://www.theestablished.com/community/business/blissclubs-minu-margeret-is-building-a-community-of-women-in-the-male-dominated-fitness-and-activewear-industry
- YourStory — Athleisure brand BlissClub bags Rs 160 Cr: https://yourstory.com/2026/08/athleisure-brand-blissclub-bags-rs-160-cr-expand-product-range-retail-footprint
- Elevation Capital — BlissClub portfolio profile: https://www.elevationcapital.com/portfolio/bliss-club
- CB Insights — BlissClub company and funding profile: https://www.cbinsights.com/compare/blissclub-vs-go-fashion-india
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