Growfitter, a Mumbai-based incentivized health and wellness platform that was recently featured on Shark Tank India, said today that it has raised $1 million in a pre-Series A funding round headed by Gurugram-based angel investment firm Inflection Point Ventures (IPV).
First Port Capital, Mumbai Angels, Startup Angel Network, DevX Accelerator Fund, Blockchain Founders Fund (Singapore), and JPIN also participated in the financing. Mohit Burman (Vice Chairman, Dabur India) and Aman Gupta, Co-founder and CMO of boAt, were among the angel investors who participated in the round.
Sanmati Pande and Harshit Sethy founded the organisation with the goal of encouraging individuals and families to live an active and healthy lifestyle. Growfitter delivers consumer health and wellness brands goal-based premium rewards for leading a healthy lifestyle for 30 minutes of daily walking, running, cycling, workout, and health quiz.
Growfitter says the raised funds will be used towards building technology infrastructure and expanding business operations, hiring, and branding of the platform. “The funding will be used to grow our technology stack, offer more immersive experiences to our users and members, and develop a wider embrace of our target segments,” said Harshit Sethy, Co-Founder and CTO, Growfitter.
Growfitter’s goal, according to Harshit, is to achieve 10 million users in the next two years and create an ecosystem powered by AI and machine learning to assist people get fit and live a healthy lifestyle.
The app employs a proprietary motion-sensing algorithm to determine if the user is walking, jogging, driving, or cycling. At the same time, the company claims to have created the first-ever real-world dataset on consumers’ everyday health behaviours.
Growfitter’s goal, according to Harshit, is to achieve 10 million users in the next two years and create an ecosystem powered by AI and machine learning to assist people get fit and live a healthy lifestyle.
The app employs a proprietary motion-sensing algorithm to determine if the user is walking, jogging, driving, or cycling. At the same time, the company claims to have created the first-ever real-world dataset on consumers’ everyday health behaviours.
It presently has over 600,000 members across 200 cities on its platform, according to the announcement, and has given out $1 million in awards to date.
