New Delhi: The business reality television series Shark Tank India has proven to be a boon for many startups to raise funds. The name Growfitter also comes among such startups.
Growfitter raised $1 million through funding which was led by Infection Point Ventures.
Other than Infection Point Ventures, First Port Capital, Mumbai Angels, Startup Angel Network, DevX Accelerator Fund, Blockchain Founders Fund (Singapore), JPIN also participated in the funding rounds. Angel Investors such as Mohit Burman (vice-chairman, Dabur India) and Aman Gupta also joined the rounds.
Notably, Aman Gupta is a co-founder and CMO of Boat. In Growfitter, he had invested via Shark Tank India.
What is Grrowfitter?
Growfitter is a health and fitness discovery platform. It was founded by Sanmati Pande and Harshit Sethy and started the business in 2016.
The company claims itself to be India’s biggest incentivised wellness platform. It has around 12,000+ fitness centers across 14 cities across India. According to the Twitter account of Growfitter, it is currently providing rewards for referring to others.
It is reported that the startup has more than 20,000 paid subscribers and over 3 million visitors on its website.
Will use funding to grow further
The capital Growfitter raised from investors will be used for expanding business, building technology infrastructure, hiring, and branding the platform.
Thanking for the financial support to IPV, Sanmati Pande, co-founder, and CEO of Growfitter said, ”IPV is one of the best investment platforms run by industry veterans & professionals. Founder & CEO of Inflection Point Ventures, Vinay Bansal has been a great support by providing not just growth capital but also strategic partnership to scale the business.”
