Virat Kohli invests Rs 40 crore in Agilitas, joins as strategic partner

New Delhi: Cricketer Virat Kohli has invested Rs 40 crore in Bengaluru-based sportswear and sporting goods company Agilitas, according to a report by Moneycontrol. The startup was founded by Abhishek Ganguly, former managing director of Puma India.

Ganguly had earlier played a key role in bringing Kohli on board as a brand ambassador for Puma India in 2017. The deal, reportedly worth Rs 110 crore, was set to run until 2025. 

However, Kohli has now exited the endorsement arrangement, which had reportedly risen in value to Rs 300 crore, to back Ganguly’s new venture.

Unlike his previous brand associations, Kohli’s engagement with Agilitas involves direct financial investment and active participation in business decisions. He has been allotted approximately 3.6 lakh Class 2 Compulsorily Convertible Preference Shares (CCPS), which will later convert into equity shares. This structure differs from optional instruments where conversion is not mandatory.

Agilitas is aiming to develop a complete sports ecosystem, including manufacturing and retail operations. In 2023, the company acquired Mochiko Shoes, a supplier for global sportswear brands such as Adidas, Puma, Reebok, Skechers, New Balance, Asics, Crocs, Clarks, US Polo, and Decathlon.

The company has also acquired the licensing rights to sell Lotto-branded footwear in India and selected international markets. Additionally, Agilitas is set to introduce at least three new brands, including Kohli’s personal label One8.

Agilitas has raised nearly Rs 600 crore from institutional and strategic investors since its inception. Backers include venture capital firms such as Spring Capital and Nexus Venture Partners, as well as former cricketer Yuvraj Singh.