Virat Kohli started a new innings with this startup, made the first investment of ₹ 40 crores
Virat Kohli, who has scored a lot of runs on the cricket field, is now playing a big game on the business pitch as well. He has invested Rs 40 crore in sports goods manufacturing company Agilitas Sports. Sources familiar with the matter have given this information to Moneycontrol. Agilitas Sports Company has been started by former Managing Director of Puma India, Abhishek Ganguly. Abhishek is the same person who played an important role in making Kohli the brand ambassador of Puma.
Kohli is no longer just a face, but also a shareholder
Kohli’s Rs 110 crore contract with Puma began in 2017, and was reportedly supposed to run for eight years, till 2025. The contract was to be renewed this year for Rs 300 crore. But earlier this year, Kohli pulled out of the deal and has now decided to go with Agilitas. Interestingly, this time he will not just be a brand ambassador, but will also play a key role in the company’s growth as a shareholder.
Company Vision: ‘Make in India’ Sports Ecosystem
Bengaluru-headquartered Agilitas aims to build an end-to-end ecosystem for sports goods in India, from manufacturing to retail. For things that the company cannot make on its own, it will acquire companies with expertise in that field.
In 2023, Agilitas acquired Mochiko Shoes, which makes shoes for brands like Adidas, Puma, New Balance, Skechers. The company has also acquired the licensing rights of the Lotto brand in India.
Apart from this, the company is planning to acquire the license of at least three more brands, one of which will also include Virat Kohli’s popular brand One8. This will further increase Kohli’s influence in the company’s operations.
Kohli may invest more in future
Sources said that the company has issued around 3.6 lakh Class-2 CCPS (Compulsorily Convertible Preference Shares) to Kohli, which will be compulsorily converted into equity shares in future. Sources say that this investment of ₹40 crore is just the beginning. Kohli will invest more in the future and increase his involvement with the company. The company aims to take both Virat’s name and his brand value to new heights of growth of the company.
Virat’s Startup Portfolio
Virat Kohli has invested in many startup companies before. He has so far invested in more than 10 new-age startups like Digit Insurance, MPL, Wrogn. Agilitas has so far raised funding of about Rs 600 crore, which also includes names like Spring Capital, Nexus Venture Partners and former cricketer Yuvraj Singh.
Join Us On Social Media:-
Contact Us:-